Write-off the amount in invoice

WRITE OFF AMOUNT INVOICE IN ODOO

A procedure used in accounting when an asset is determined to be uncollected and is therefore considered to be a loss. For example, a company made a sale on credit to a customer, but one week later the client’s business declared bankruptcy and became completely unable to pay off the credit account with the company. This uncollected debt would then written-off by the company and recorded as an expense by accountants.

In Odoo we can  write-off  amount in invoice easily. To get started with this take the invoicing module and select ‘Customer Invoices’ under the ‘Documents’ menu.

 

Then Click on the Create button in the Customer Invoices screen to create an invoice.

 

From this screen create an invoice and validate it by clicking Validate button.

 

After validating you will get the following screen. Then Click the Register Payment button for the payment.

 

Add the amount getting from customer as a part of his invoice in ‘Payment Amount’ filed. Then the payment difference set as ‘Keep open’ and validate it.

 

Now you can see the paid amount and due amount.

 

When a customer is telling that he will not pay remaining amount for any reason. So it require to make settlement for your accounting means make write-off on customer invoice.

To write-off the amount click again on the Register Payment button and set the payment difference as ‘Mark invoice as fully paid’. Also select the journal and account to post the difference. Then validate it.

Here you can see the label as ‘Write-Off’.

 

Now you can see that the balance amount paid and Amount due is zero.

 

By selecting Journal Items under the Adviser menu you can see the details of the transaction and the label as Write-Off.

 

Hope you understood about write off amount in invoice in odoo very well.🙂