{"type":"video","version":"1.0","html":"<iframe src=\"https://www.loom.com/embed/ee6cedebeac444a78aa640e19d2b6b90\" frameborder=\"0\" width=\"1920\" height=\"1440\" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>","height":1440,"width":1920,"provider_name":"Loom","provider_url":"https://www.loom.com","thumbnail_height":1440,"thumbnail_width":1920,"thumbnail_url":"https://cdn.loom.com/sessions/thumbnails/ee6cedebeac444a78aa640e19d2b6b90-bff99c1239d9357b.gif","duration":143.9895,"title":"How to Write Off Bad Debt Expenses in Your Accounting System 💼","description":"In this video, I walk you through the process of writing off invoices as bad debt expenses, particularly when a customer goes bankrupt or is unlikely to pay. First, ensure you have a bad debt expense account set up in your general ledger. I demonstrate how to find the relevant customer invoices and how to record the write-off, which will clear the accounts receivable and reflect the expense on your income statement. Remember, instead of depositing the payment into your bank account, you'll be writing it off directly to your bad debt expense. Please make sure to follow these steps for any invoices you need to write off."}