When you decide that a company will not pay an invoice, you can write off the invoice due to it being uncollectible. When you write off an invoice, Kube marks the original invoice Unpaid – Written Off and creates a new negative invoice for the unpaid amount that it marks Write-Off. The negative invoice offsets the original invoice and reflects the written-off amount in your books. See the sections below for more details.
NOTES:
Depending on your assigned role and permissions, and the version of Kube your organization uses, some or all of these menus or services may not be available or displayed.
If the company partially paid the invoice, Kube only writes off the unpaid amount and labels the original invoice Partially Paid - Written-Off.
Original invoice (Unpaid – Written-Off or Partially Paid - Written-Off)
Kube does not make any changes to the original invoice (Unpaid – Written-Off) when you write it off.
Kube does not make any changes to the charges from the original invoice listed on the Invoiced Charges screen.
Written-off invoice (Write-Off)
The new Write-Off invoice includes one negative charge for the unpaid amount from each original charge. If the company partially paid the original invoice, the negative amount reflects only the unpaid portion of each charge. For example, if the original invoice included a $5 charge for catering (without tax) and the company paid $2 before you wrote off the invoice, the new Write-Off invoice shows a -$3 charge for the unpaid catering cost. If tax was included, Kube lists the written-off tax amount per each tax code as a negative value below the charge list on the invoice.
On the Invoiced Charges screen, Kube adds a negative charge for each written-off amount from the original invoice using the write-off charge code specified on the Account Settings screen. If the written-off amounts included tax, those amounts charge to the write-off charge code specified per tax when the tax codes were added. Kube adds a note to each charge indicating it is a written-off amount and lists the original invoice number.
NOTES:
Kube shows written-off amounts as negative numbers to indicate they have been written off. However, Kube does not adjust the original charge or the revenue GL account used for the original charge. Instead, Kube adds a charge to the expense write-off GL account that offsets the revenue amount. For more information, see Setting default system GL accounts and charge codes.
If you use Voyager, you can run reports to see more details about your accounting information. For more information, see "Reports" in the Yardi Voyager Core User's Guide in Client Central.
You can use the Write Off Reports in Kube to see written-off amounts. For more information, see Write Off Reports overview.
Once you write off an invoice, you cannot email the original invoice or the Write-Off invoice to your customer.
To write off an invoice
Select Receivables in the top menu and select Invoices from the drop-down menu.
NOTE: If your organization does not use invoice approval, Kube hides the Approval Pending screen, and the Approved screen appears instead. If this is the case, skip to Step 3. For more information, see Turning invoice approval on or off.
Locate the invoice in the grid and click the Additional Options button next to the invoice and select Write Off in the drop-down menu. A confirmation request appears.
Complete the fields.
Charge Date
Choose the charge date for the write off charges created when you write off the invoice. This field defaults to the current date.
Post Month
Choose the post month in which you want the write off invoice to post. This field defaults to the open post month.
Click Confirm.