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Writing off an Account Balance

Method 1: Using a Credit Note

Sometimes circumstances demand that an account or specific invoices be written off. One method of accomplishing this is to create a credit on the account that will take care of the outstanding balance.

  1. Access the Accounting Centre in FlexiBake and click on the 'Credit Notes' button. Next, press 'Enter' on your keyboard or 'New…' in the bottom left corner to create a new Credit Note.

  2. Enter in the Customer, Credit Amount, and a Memo about the Credit if desired. The credit amount should be equal to the amount the customer has remaining on their account. 

  3. On the credit note, once the details have been entered they can be saved by clicking OK in the top right corner. 

  4. Return to the Credit Notes window, select the customer and Post the credit to the account.

  5. The last step is to mark the credit as exported to avoid skewing accounting numbers during your next export. 

Next, mark the Credit Note as exported.  Perform these steps if you want to prevent the credit note from being exported to your accounting software..
  1. Navigate to the Accounting Center and select the Export Button. Our specifies an export to QuickBooks but yours may be to MYOB, Sage, Peachtree, .CSV, etc. 
     
  2. Ensure the Consolidated Export check box is not checked. 

  3. From the Transaction Types drop-down select Credit Notes and add the date you created the items 

  4. Select the credit notes allocated to the account write off and choose the Set Transaction Exported. 

Method 2: Using a Payment Discount

Another option to write off a balance or an invoice is to use the Discount Taken option inside a Payment.

First you'll need to create your payment using the following steps:

  1. In the Accounting Centre, click on Maintain Payments 
  2. Click New to begin a new payment
  3. Select the customer, and set the Amount Paid to 0
  4. Locate the invoice you would like to write off in the grid below. In the Disc. Taken column, enter in the balance of the invoice that you would like to write off
  5. Repeat until all desired invoices have been discounted, then click OK to save.
  6. A pop-up will appear asking if you would like to make the payment value equal to the amount applied to invoices, 0.00. Click Yes to continue