Timeline for Client can no longer afford to pay me due to unforeseen circumstances
Current License: CC BY-SA 4.0
5 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Sep 13, 2020 at 3:06 | comment | added | Jasen | @MichaelJ. there's no difference if you are doing cash based accounting, if on the other hand you are accounting accruals you have to write off the bad debt as a loss to cancel the unpaid invoice. | |
| Sep 12, 2020 at 21:23 | comment | added | WernerCD | @MichaelJ. you can use the lost income to pay less taxes. thebalancesmb.com/… | |
| Sep 11, 2020 at 1:33 | comment | added | Old_Lamplighter | @MichaelJ. You write it off as a bad debt. | |
| Sep 10, 2020 at 21:14 | comment | added | user30748 | I'm not following the write-off part... what's the difference between writing off the loss against a ledger entry that said you were owed the money, and simply not including the money you weren't paid in income in the first place??? | |
| Sep 10, 2020 at 13:16 | history | answered | Old_Lamplighter | CC BY-SA 4.0 |