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169 votes
An error occurred while saving the comment Jason Goodridge supported this idea ·
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632 votes
Hi community, we appreciate this idea has collected a fair amount of votes and commentary. This has all been feedback and taken seriously by our product teams.
Currently, there are ways to record a bad debt in Xero, depending on your tax registration status and how you want the transactions to be recorded in your reports - We have help for this on Xero Central you can draw into.
We don’t have any plans in the near term to expand functionality to develop a button to write off invoices or bills as 'bad debt'. If anything changes in this space, we’ll update you on this idea!
An error occurred while saving the comment Jason Goodridge commented
Ways I've written off bad debts:
1. Create an expense account called "Bad Debts Written Off" and mark it as being able to receive payments. "Pay" the invoice to the bad debt expense account; or
2. Void the invoice (with or without a note); or
3. Add an item into the invoice which links to the bad debt account (from #1) and add a negative amount to zero the invoice out.
Options 1 and 3 are more "obvious" as you see the words "bad debt" in there somewhere. They have different timing though, as 3 will have the expense timed with the invoice (which may be after BAS is filed, requiring an adjustment later/EOFY) but option 1 can be timed when you actually write off the invoice.
Option 1 is my "go to" solution here as it reflects the timing properly and is easily identifyable as a cost on the P/L.
I do agree that a more consistent way of doing this and knowing what the impacts will be would be useful. -
643 votes
Hi everyone, we value your input to this idea and how adding files directly to a fixed asset in Xero would be of use and improve efficiency for our customers.
Noted in my last update - our team are now in the midst of building Fixed Assets with updated technology. We plan to begin releasing this in the latter part of this year.
Our product team have paid close attention to the requests related to Fixed Assets here in community as they develop, and we do have intentions of providing the ability to attach files to assets.
For now, we'll shift to Under review and I'll keep you updated when we're closer to making this available to you all.
Jason Goodridge supported this idea ·
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1,019 votes
Hi community, appreciate the want for more of an update from us on this highly voted idea. Since Kelly’s last message I am pleased to let you know that our product team has done some discovery work in this space. More specifically, exploring the different ways in which the problem could be solved in Xero, alongside understanding the technical challenges. The feedback you’ve shared has been really useful for our product team’s research 🙏
We recognise the importance of needing to know which bills are flagged, so people making payment can review whether a bill should be paid or not, to avoid inadvertent payment. Being able to improve this workflow is important to us and once we have solution concepts, we will be sure to reach out to this community for feedback.
Right now there are no specific time frames available as to when this might be worked on, but…
Jason Goodridge supported this idea ·
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156 votes
Jason Goodridge supported this idea ·
I would suggest only a small fraction of journals would need to be on a cash basis, why does it default to being cash? Whenever I find errors in reporting it's because someone has forgotten to uncheck this and we have to go searching through journals and untick the option - very frustrating! Xero - please fix this!!