The term "bad debt" subsumes the sum that a company or organization is unable to recoup from a debtor in the event that the borrower has declared bankruptcy or is otherwise unable to fulfill the commitment. While users go for reconciliation of accounts in QuickBooks, debt issues can significantly affect profit and loss reporting. Accounts receivable, another term for bad debt or an uncollectible account, are frequently connected. You will learn in this post the precise procedures for writing off bad debt in the QuickBooks Desktop program.
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