Bad Dept

I had to place a small deposit with a company of £100.00, unfortunately the company has gone bust with no real assets, so I will not be receiving anything back. When placing the deposit I created a asset for the £100.00 deposit, not quite sure how to write of this as a bad debt in the Solar System

Posted by Tom Beattie on Feb 27, 2012 5:04 PM GMT

Hiya Tom,

Just record a General Transaction from your asset account to the 'Bad Debts Expense' account.

Cheers

Posted by Mark McLaren (Solar Accounts) on Feb 28, 2012 8:54 AM GMT