Financial & invoicing terms explained
Write-off
A write-off recognizes that specific receivables are uncollectible after documented collection attempts.
Controls
Require approvals and evidence before writing off balances.
Tax
Bad debt deductions vary - consult your accountant.
Collections
You may still sell debt or pursue legal avenues after write-off depending on policy.
Write-off - FAQ
Tax impact?+
Rules vary - work with your accountant on deductibility.
Still pursue debtor?+
You can write off for books but keep collection options per policy.
Partial write-off?+
Yes - reduce AR for the uncollectible portion only.