The term bad debt infers the amount that a company or organization is unable to collect from a debtor who has declared bankruptcy or is otherwise unable to fulfill their financial obligation. When reconciling accounts in QuickBooks, bad debt issues can significantly impact profit and loss reporting. Accounts receivable, also known as bad debt or uncollectible accounts, are often associated with this. In this post, you will learn the precise procedures for writing off bad debt in the QuickBooks Desktop program.
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