Create a Manual Write Off

This scenario illustrates creating a write off transaction manually (online).

Assume that a RE transaction exists and has aged to beyond the Past Due Days for Write Off field on System Options. Perform these steps:

1. Create a WO transaction.

There are a couple of ways to create a WO transaction.

• If the entire RE transaction is going to be written off, the easiest way to create the WO is by using the Copy Forward function.

• Another way is to create the WO and use the Auto Apply function to create the accounting lines.

The example below shows how to use the Copy Forward function to create a WO transaction.

• Find the RE transaction to be written off.  Then use the Copy Forward functionality to create a new WO transaction.

• The WO transaction is created.  Because the Copy Forward functions copies all required elements from the RE transaction and it has been determined that the entire RE transaction will be written off, the transaction is ready for validation and submission.

2. Perform the Validate action to validate for errors.

3. If errors exist, fix the errors and repeat Step 2. If no errors exist, then continue with Step 4.

4. Perform the Submit action to submit the transaction.

Once the WO transaction has been finalized, the RE transaction is closed with the indication that it was written off.

You can also create a WO transaction from the Transaction Catalog. The steps are detailed below:

1. Create a WO Transaction from the Transaction Catalog.

2. Complete the Vendor tab.

1. Insert a new line.

2. Enter the reference information using the RE transaction code, RE transaction Department Code, and RE Transaction ID. You can also specify the RE Transaction Vendor Line Number and RE Transaction Accounting Line Number.

3. Enter the WO Percent if you want to write off a portion of the outstanding amount of the Receivable rather than the entire amount.

4. Select the Auto Apply check box.

3. Perform the Auto Apply action on the Header level. The Accounting Line would be generated.

4. Perform the Validate action to validate for errors.

5. If errors exist, fix the errors and repeat Step 4. If no errors exist, then continue with Step 6.

6. Perform the Submit action to submit the transaction.

Related Topic(s):

• For general information about editing or creating transactions, refer to the Transactions User Guide.