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? CARET Legal's Write-off feature enables 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?).
- Navigate to your Matters by selecting the Matters icon to display your list of matters, then click on the blue linked Matter No. to open it.
- Select the Invoices tab and click on the More icon to the right of the matter and click Edit from the drop-down menu.
Or, navigate to Accounting by clicking the Accounting icon, under the Invoice & Payments tab click on the More icon to the right of an invoice and select Edit from the drop-down menu.
- The invoice will be displayed. Click on the ACTIONS at the top right and select Write-off from the dropdown menu.
- The Write-off modal displays.
- Select the Write off remaining (Amount) checkbox.
- Use the calendar controls to enter a date in the WRITE OFF DATE field.
- Enter a reason in the WRITE OFF REASON field.
Note: As a best practice, always enter a reason as this will be displayed on the Write-Off Report.
- Click SAVE to write off the remaining balance of the invoice.
- You are returned to the invoice. Click SAVE in the top right.
- 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.
- Navigate to Accounting by clicking the Accounting icon. Select the Reports tab and scroll down to Accounting Reports. Click on Write-off Report to view a list of all your invoices that have a write-off loss. This report can be exported to an Excel file or printed to a PDF.
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