Write Off
This option will write off the customers payment/NSF fee. After clicking the write off button a pop up will appear asking for a write off reason. 

 

The reasons available are:

• Goodwill
• Cannot contact the client (cannot collect)

 

The option will only appear against payments showing as NOT paid.  Where the Option button is (3 dots) you can choose to write off the payment.

 

 

As mentioned there are 2 write off reasons, Goodwill and Cannot contact the client (Cannot collect), shown here:

 

 

Choosing the correct write off reason is important as they reflect very different results for what will happen going forward and from an accounting aspect.

 

Goodwill

 

This is an amount that you are going to absorb as a company, you are going to take that from your revenue, and pay for the customer.  

This will still show on the Accounts Receivable (bring that down), your Accounts Payable will stay the same (you will pay it instead of the customer), therefore come from your revenue. No further emails will be sent to the customer with regards to them owing this amount. 

 

Cannot contact the client (cannot collect)

 

This is bad debt.  This comes as an expense to your organization as the customer has not paid it and it is money owed to you.  This will be treated as an outstanding balance and therefore an email will be sent to the customer to request payment and an activity will be created in bond to show this has been sent. 

 

 

If the payment that you want to write off is on HOLD, here is how to deal with that.

 

First use the Actions icon, next to the selected payment, to change to Unpaid. Shown here:

 

 

Select Unpaid.

This will Change the status to Unpaid and you will be able to select the Action icon again and the full menu is available to choose Write off from, like here:

 

 

IMPORTANT

You must deal with the Write off on the same day as you change the status back to Unpaid.  If you left the payment without writing it off, the payment processor will attempt to run again that evening and try to collect the payment from the bank account or credit card again.  Basically, as soon as you change the status to Unpaid, select Write off or Pay and deal with the payment at the same time.