What do you do when you know that a client is not able to pay an invoice and you have to write it off as a loss? Zola Suite's new Write-off feature will enable you to write-off this debt and track it as a loss. You will no longer need to provide a courtesy discount to your client (How Do I Add an Invoice Level Discount?).
- Under Matters, select the "Invoice" tab and clicking on the 3 vertical dots to the right to edit the invoice.
Or go to "Accounting" section, select the "Invoice Payments" tab and click on the 3 vertical dots to the right to edit the invoice.
- Once you have clicked on the edit button the invoice will be displayed. Click on the "Action" tab on the top right and select "Write-off" from the dropdown.
- Another window will appear. Check the box to write-off the remaining balance of the invoice. Edit the date and add reason for write-off. As a best practice, always enter a reason for your records. This reason will be displayed on the "Write-Off Report."
- Select the Save button to save the write-off. Then, save the invoice.
- The invoice will be shown as paid and updated with a new subtotal line. Additionally, the write-off will be reflected on the "Write-off Report."
- You can view this and other "Write-off" loss/debt in the "Accounting" section. Select the "Reports" tab --> Accounting Reports: "Write-off Report."