Doubtful Debt Run
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Introduction
The reasons for potential non payment can include disputes over supply, delivery, at the conditioner of item or the appearance of financial stress within a customer's operations. When such a dispute occurs it is prudent to add this debt or portion thereof to the doubtful debt reserve.
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Doubtful Debt Run
Doubtful Debt Run window is used to define which debts, and in what percentage are considered doubtful. This Doubtful Debts are the shown in the Doubtful Debt Window afterwards.
Some fields to note:
- Doubtful Debt Method: If there is a Doubtful Debt Method defined, it can be selected to automatically fill the needed fields with the provided values.
- Days Overdue: This field is used as a filter when selecting the existing debts. It can be removed afterwards.
- Percentage: This field is used when selecting the existing debts as the default percentage of the debt that is going to be considered doubtful. It can be changed afterwards.
Select Doubtful Debt. After filling the necessary fields, the "Select Doubtful Debt" button is shown. By clicking on it, a new pop up is shown for selecting the debts that are going to be considered doubtful.
All the pending debts are shown in this window pre-filtered by the previously set parameters. This filters can be removed by clicking in the funnel icon.
Each row represents an Outstanding Debt, and it is possible to select as many as necessary to define them as doubtful.
For each line it is possible to edit the Doubtful Debt Amount field. This is the amount that is going to be considered as doubtful. Notice that is not possible to define a Doubtful Debt amount greater than the Outstanding Amount.
The field Run Date can also be modified per each row.
When clicking in the OK button the selected records will be visible in the Doubtful Debt tab below.
Process:
It is necessary to click on the Process button after selecting the records in order to generate the corresponding Doubtful Debt/s.
Once created, it will be possible to post them or to reactivate them through the Doubtful Debt Window.
Doubtful Debt
In this tab, the previously selected records are shown. Afterwards it will be necessary to Process the Doubtful Debt in order for it to be available in Doubtful Debt Window
Full list of Doubtful Debt Run window fields and their descriptions is available in the Doubtful Debt Run Screen Reference.
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