Difference between revisions of "Bad debt"
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[[Bad debt]] is the sales invoice that has been written off because the payments are overdue and never likely to be paid. Sales invoices are only written off after some effort to retrieve the funds including going through debt collection agencies. Bad debts are expensed in the accounts. | [[Bad debt]] is the sales invoice that has been written off because the payments are overdue and never likely to be paid. Sales invoices are only written off after some effort to retrieve the funds including going through debt collection agencies. Bad debts are expensed in the accounts. | ||
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Latest revision as of 15:24, 12 July 2020
Bad debt is the sales invoice that has been written off because the payments are overdue and never likely to be paid. Sales invoices are only written off after some effort to retrieve the funds including going through debt collection agencies. Bad debts are expensed in the accounts.
