Writing off part of old debt

Accounting
1

I have a customer who owed quite a large sum. Having accepted monthly repayments for the last 12 months or so he offered a lump sum for settle the debt which I have accepted but that leaves me with a partial outstanding debt on one invoice.

Should I deal with this by marking as a bad debt or because I accepted a settlement is there another way this should be done?

2

Hello @Hactar

It sounds like bad debt but It may be worth checking with your accountant as the support team are not registered accountants.

3

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