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Write off uncollectible loan.
In Quickbooks Pro, how do I write off a Receivable that consists of the remaining amount of an uncollectible loan?
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Recommended Answer
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A write-off is an expense. Unless you are in the business of making loans, I would make "Loan Loss" or "Bad Debt Write-off" an "other expense" type account.
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debt solutions
Debt Consolidation
In simplest terms, debt consolidation involves rolling several outstanding balances into one account for easier repayment. Ideally, the new account has a lower or even a 0% interest rate. One of the most common types of consolidation entails moving a few high-interest credit card balances to a single credit card with an introductory waiver of any interest...
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