You can use this task to write off an outstanding note due balance that you are not going to collect from the tenant.
Note
Before writing off a note due balance, in Charge Type Setup, the Writeoff General Ledger account number must be assigned to all charge types that you want to write off.
To write off a note due balance, follow these steps:
1. Go to Household Detail > Accounting Tab > Promissory Notes Tab.
2. In the Open Items section, highlight the note due balance that you want to write off.
3. Go to Tasks > Writeoff Selected Note Due Balance.
4. The following fields are populated by the system and cannot be modified:
▪ Due Date—Displays the date on which the balance was due.
▪ Amount Due—Displays the amount of the balance.
▪ Community—Displays the community.
▪ Apt. Nbr.—Displays the apartment number
▪ Receivable Type—Displays the receivable type.
Note
The GL accounts for write-offs of the receivable type are displayed beneath the Charge Date field.
5. Review or complete the following fields:
▪ Charge Date—Defaults to the current date. You can enter or select a different date. You cannot enter a future charge date.
▪ Amount—Defaults to the full amount of the selected item. The amount is shown as a credit. You can change the amount if you want to write off a portion of the balance.
▪ Note—Indicates that the item is a write-off. You can edit the note.
6. Click Finished. The write-off event appears in Event History, and the note due balance no longer appears as an open items. The Remaining Balance to be billed is also reduced by the amount of the write-off.