What Is Write-Off?
Removing an uncollectible receivable or worthless asset from the books.
Detailed Explanation
Follow policy and tax rules. Document collection efforts before writing off bad debt.
Example
After legal demand fails, you write off a $2k client balance.
Why It Matters
Stops overstating assets and clarifies true AR.
Related Resources
Related Accounting Terms
Get invoicing tips that actually help
Join 5,000+ freelancers and small business owners. One email per week with practical invoicing advice, tax tips, and product updates.
No spam, ever. Unsubscribe anytime.