Bad Debt not showing on P&L Report

Hello, I am new to the reports system on QuickFile.

I have marked around 6 invoices as bad debt, but they are not coming off the profit total or being shown in the expense area of the profit and loss sheet.

I have also marked some as credits for refunds etc and have noticed they do come off the profits. Please could someone clarify how I would indicate that some of the “profits” are actually bad debt?

Thanks in advance!

Hi @emily.schofield

If they’re flagged as a bad debt using the built in bad debt option, the value is moved to nominal 8100 Bad Debt Write Off, which should show in the “Less Expenses” part of your P&L report.

The credits would create a credit note basically reversing the original invoice. This would either create a refund transaction or reduce the balance (depending on whether the original invoice was paid or not).

One thing to be sure of is the dates. The P&L report is only for a particular date range. It could be a case of adding the bad debt for the wrong date.

I hope this helps?

Hello @QFMathew ,

Thank you for your reply. However, the bad debt is definitely not showing in the P&L report and I have inputted dates from when we opened the business until now so it cannot be the date range that is a fault. I am using the P&L report in the project tags section does that make a difference?

Yes, that would make a difference.

Because of the way it works, the bad debt isn’t taken into account on a project tag basis. It should however be reflected in the overall profit and loss report.

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