Module for invoices unlikely to be paid 


Invoices unlikely to be received is an estimate of invoices that are unlikely to be paid. Marking an invoice as unlikely to be paid does not mean that the invoice will definitely not be paid, it is only an evaluation. If a business goes bankrupt, add a payment to the invoice, select the bad debt or another expense account and don’t forget to select the VAT – then you can claim back the money paid on that sales invoice from the tax and customs board. However, if it is necessary to determine it as improbable, then it is necessary to make relevant estimated transactions. It is also possible to configure the invoice attributes and add an attribute to the invoice for an unlikely estimate, but this functionality describes the creation of the transactions and the estimation of the transactions. 

Accounts used: 

  • Unlikely to be paid invoices contra-acting (system account).
  • Unlikely to be paid invoices expense account (system account).

The process is as follows: 

  • Reset the entire previous estimate of unlikely receivables 
    • The functionality provides the balance of the Contra Account for Unlikely Bills Receivable, disaggregated by all projects (by dimension).
    • By dimension it is necessary that, for example, an estimate has been given by department and now it is necessary to reset it by department as well.
    • By clicking on “Unlikely to be received”, the system will prepare the following transaction: 

Debit contra account by projects

Credit expense account by projects

  • Add the new estimate
  • Search for invoices under Open Receivables by looking up all invoices according to the number of days outstanding. For example, you will have an estimate once a quarter with the following rule: 90-179 days past the due date will go to 50% past due and 180+ days past the due date will go to 100% past due. 

In this situation, you will need to do two calculations: 

  • Look for overdue days 90-179 and compile a transaction for 50% of the amount.
  • Search for overdue days 180-99999 and compile a transaction for 100% of the amount

The implementation includes training and the addition of the corresponding buttons. 

Price of the add-on module: 799 EUR + VAT.