For property managers, or if the rent is a liability
Step 1: Create Transaction
Go to Tenancies > Statement > Add Transaction (negative number)
Step 2: Allocate Bad Debt
Locate the transaction on the statement and then allocate it to the relevant outstanding debt.
For self managing landlords, or if the rent is revenue.
Step 1: Create an Analysis Code. To understand this see understanding analysis code
Go to Preferences > Analysis Codes > Add Analysis Code
*For Xero=users ensure you map this new analysis code*
Create the analysis code as shown in the image, if you use Xero you need to map this to your “bad debt” expense nominal account
Step 2: Create Transaction
Go to Tenancies > Statement > Add Transaction
Once added it will appear as a negative transaction
Step 3: Allocate Bad Debt
This will remove the outstanding as being overdue.
Our support staff are ready to help with any technical issues.
To get in touch please use our online chat below