Question

When should an Accountant user use the Write Off tool in QuickBooks Online?

Answer 1

Answer:

A. When a client has outstanding invoices that will not be paid

Explanation:

QuickBooks is an accounting application that was developed by Intuit. It is aimed at providing easy to understand accounting services to small and medium scale business owners.

The write off function on QuickBooks is used to reduce or cancel the amount on unpaid receivables, unpaid loans, or losses such as on stored inventory.

When a write off is done it reduces the amount in an asset account while simultaneously debiting a liability account.

So when a client has outstanding invoices that will not be paid, they can be written off