MYOB Assignment Help - How to make entry for bad debts written off in customer cards
Write off of bad debts is a tricky task, which students find difficult and this can be made easy by looking for MYOB assignment help from our experts. However for the students who do not wish to take MYOB assignment help this time, we are providing a detailed guideline for writing off the bad debts in MYOB by using the customer card.
It may be noted that theoretically bad debts can be written off by debiting the bad debts expense account and crediting the provision for bad debts account. However in real life, this is not the best way to write off the bad debts in MYOB and if student use this method in their MYOB homework they may not get any marks for this.
Our experts who provide regular MYOB assignment help suggest an advance and more logical way. The bad debts written off should be routed through the customer card and sales invoice.
The MYOB assignment help for writing off bad debts has been provided for MYOB Account Right 19.8 students version.
For this student should navigate to sales command center and open the sales invoice by clicking Enter Sales. Now a new sales invoice will open in front of you, in the bottom side of screen you will find a Layout button, Click on that Layout button and select miscellaneous as layout. Now most of the work has been doe on your part.
Now in the miscellaneous layout invoice, choose the customer from the drop-down menu, enter date and description as appropriate. Choose bad debts expense in accounts tab, MYOB may display a warning message such as "The account used to allocate a sale is usually an income account.", ignore this warning message and enter the amount of bad debt expense in negative value. It is important to enter the amount in negative.
Now go back to sales command center and click on sales register and click on Returns & Credits tab. Here you will find that miscellaneous invoice which you just created. Now look at the bottom of screen, there are two options, Pay refund and Apply to sale. Choose apply to sale option and click record. Now you can cross check in trial balance that the same amount is appearing under the bad debts expense head. It may be noted that there are several accounting methods of writing off the bad debts and MYOB miscellaneous invoice method is a direct written off method. For more information you can contact us for MYOB assignment help.