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Purchase invoice write-off

Our supplier has closed its operation, but we still have an unpaid invoice from them. Now there is nowhere to pay, so we want to write off these bills somehow. Thank you in advance!

Hi @Lorinc

Sorry for the delay in coming back to you about this.

The best way to handle this would be to raise a credit note against the invoice so that it is cancelled out. This would then leave a paper trail if ever there was a question brought up about it.

However, I am not an accountant, so it may be worth asking your accountant whether this is the correct procedure.

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