Writing Off Bad Debt

Writing off bad debt is a way for you to reconcile unpaid balances for units that have become unoccupied. You can write off bad debt:

 

 

1) During Move-Out

At the Payment screen of the move-out process:

  • Click Pay Later in the bottom right hand corner of the screen. A window displaying a successful move-out message will appear.
  • The tenant’s remaining balance will also be shown under Remaining Balance.
  • Click Write off bad debt underneath the remaining balance.
  • On the following screen, each of the tenant’s remaining charges are broken down, line-by-line. Type the amount you wish to waive on each line item in the field under the Amount column.
  • A reason for the write-off is required; be sure to type your reason in the Reason for writing off bad debt field.
  • Click Write off bad debt in the lower right hand corner.
  • The following screen will confirm success of the write-off and display the total amount written off.

2) After Move-Out

On the tenant ledger

  • In the upper right hand of the screen, under the vacated unit, click Write off bad debt. The Write Off Bad Debt window will appear.
  • You will see that the tenant’s remaining charges are broken down, line-by-line. Type the amount you wish to waive on each line item in the field under the Amount column.
  • A reason for the write-off is required; be sure to type your reason in the Reason for writing off bad debt field.
  • Click Write off bad debt in the lower right hand corner.
  • The following screen will confirm success of the write-off and display the total amount written off.

Note: When specifying the amount of money to write off, the amounts in the Charge and Balance columns may not be equal. If you wish to write off the amount in full, enter the amount of the balance rather than the charge.

Automatic Write-off at Move-Out and Auction

If you'd like bad debt to be written off automatically at move-out and auction, you can define your settings to do this. In the Corporate section of your software, access your Billing Settings. Check the Yes box to automatically write off bad debt at move-out and auction, and select the facilities for which you'd like this task to happen automatically. Then click Save.

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