Bad Debt / Provision for doubtful debts
Summary
Bad Debt / Provision for doubtful debtsContent
Hi, All
How can I Handel ( Bad Debt / Provision for doubtful debts ) from Accounts Receivable module to see the Gross, Provision and Net Balance in vendor wise details report
Below is the accounting entry :
1. Booking Revenue
Dr. Receivable 1000
Cr Revenue 1000
2. Booking Impairment
Dr. Doubtful debt (Expense) 500
Cr. Provision for DD (Liability) 500
3. Partial Receipt
Dr. Bank 500
Cr. Receivable 500 Rec 500
4. Further Partial Receipt of 250
Dr. Bank 250
Cr. Receivable 250
Dr. Provision for DD (Liability) 250
Cr. Doubtful Debit (Expense) 250
5. Bad Debt
Dr. Provision for DD (Liability) 250
Cr. Receivable 250
Bad Debt Recovered
Dr. Bank 250
Cr. Revenue /Other income 250