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Bad debts / writing off customers (#CUSBDWO01)

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20150707 (Andy)   Pro, MultiUser, MultiSite, MultiView   Self Storage EditionMarina EditionVault Edition   7.X (and higher)   Video

Why write-off bad debt?

If you have StorMan configured to require a zero balance when a Customers moves out (more on setting this up via System Setup: #SYSSETTAB701), you will somehow need to 'zero' the account where a bad debt is concerned.

This process involved two parts; the first being the setup of an analysis code (more on analysis codes: #ANLWAC01) to "write off" the Customer's charges to - you will only need to do this once, because once the analysis code is setup in your system, you can continue to use it as required. The second part is "zeroing" a Customer's account.

Both parts are outlined below - so if you already have a Bad Debt / Write Off analysis code setup, you may wish to skip ahead to Part 2...

 

Part 1 - Setting up a Bad Debt / Write Off analysis code

  1. Create a new Analysis Code (more on adding / editing analysis codes: #ANLADET01) but ensure you set it up in the following way...

    • Add the Analysis Code as a Charge - NOT a Receipt.
    • Call it Bad debt / write off (or something similar).
  2. Save & close the analysis code setup screen.

 

Part 2 - Writing off a Bad Debt

  1. Open the Agreement in question.
  2. Navigate to the Transactions tab.
  3. Click Add credit.
  4. Select your Bad debt / write off analysis code and then enter the amount of money that you wish to write off to this code (generally this field will automatically contain the correct amount of money to be written off, in order to "zero the account").
  5. Click OK to add the credit. You will now be able to move the Customer out and / or close the Agreement.

 

Video:

On Tuesday July 7th, 2015 we held a free StorMan PowerSession webcast on the topic of Writing off Bad Debts. You can view this video by clicking on the thumbnail below...

 
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