We have a couple account with outstanding balances that should be at 0. How do we remove them?

Posted on: 1/22/2019 11:56:26 AM
Replied by : support@icaresoftware.com

There are 2 options for offsetting outstanding balances in other words writing it off:

  • Give a credit to that account
  • Void the transactions that are contributing to the outstanding balance

From a tax and financial perspective, option 1 of giving a credit is better. The credit will reduce your reportable revenue for the current fiscal year.

To give a credit

  • Go to the Ledger or the Transactions Report
  • Select a row of that account
  • In Action Menu click on Add Charge or Credit
  • Using the popup run the credit

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