Hi there
I have been reading the posts about writing off bad debt, and have found the option that appears on invoices that haven’t been paid within six months. However, we have unfortunately had a client that has gone into administration and have been informed by the administrators that we will not be receiving any of the monies owed.
As such, we need to write off a number of invoices that are less than six months old. This needs to be done before the end of the month otherwise the VAT will payable to HMRC, despite us having no chance of receiving payment.
Any help would be much appreciated.