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Salt Lake City Bookkeeping Blog

Best Bookkeeping Practices for Dealing with Bad Debt

Posted by Leanne Armstrong on Sep 5, 2018 9:00:00 AM

When you extend credit to a customer who fails to make good on their obligation to pay you, that loss of income becomes a bad debt. Most bad debt happens because a client has run into financial trouble. But regardless of the reason for it, a certain amount of loss is to be expected when you run a small business. So let’s take a look at how to deal with bad debt from a bookkeeping perspective.

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Topics: Write off Bad Debt, Bad Debt, QuickBooks Bad Debt