CMA Community » Topic: Bad Debt/Write-Off Form

CMA Community » Topic: Bad Debt/Write-Off Form http://creditmanagementassociation.org/forums/topic/75 Sponsored by Credit Management Association en-US Tue, 07 Feb 2012 11:14:07 +0000 http://bbpress.org/?v=1.0.2 <![CDATA[Search]]> q http://creditmanagementassociation.org/forums/search.php Michael Dennis on "Bad Debt/Write-Off Form" http://creditmanagementassociation.org/forums/topic/75#post-394 Fri, 05 Feb 2010 21:58:12 +0000 Michael Dennis 394@http://creditmanagementassociation.org/forums/ Here is mine: Date Customer name Address Bill to number AR balance List of items [invoics, debits, credits and chargebacks] to be charged/written off Division to be charged Reason for the write off Requestor name and signature Initial approver signature and date Additional approvals [as required based on authority to approve write offs] Attachments: * Account statement * Copy of open items * Copy of related correspondence * Copy of credit report and/or customer financial statements DMarc CBA on "Bad Debt/Write-Off Form" http://creditmanagementassociation.org/forums/topic/75#post-377 Wed, 03 Feb 2010 01:41:39 +0000 DMarc CBA 377@http://creditmanagementassociation.org/forums/ Good Form Mr Kenning. If I might suggest one thing... you may want to edit one category and offer a choice of reserved or unreserved if you have some of the problems I do. Sometimes there are unresolved "issues" from other depts they expect me to take a hit for later on as a bad debt. That would help you can track which items you had influence over vs those you had to take a hit on that weren't reserved for as collection issues. Michael Kenning on "Bad Debt/Write-Off Form" http://creditmanagementassociation.org/forums/topic/75#post-362 Tue, 02 Feb 2010 15:26:39 +0000 Michael Kenning 362@http://creditmanagementassociation.org/forums/ Write-Off request Customer Name:_________________ Customer #_______________________ Division (from chart) _________________ Invoice #: ____________________ Adjustment Amt: $____________ USD: Balance Specifically Reserved For: 1Yes, $_______________ Entry (balance sheet) DR -1110 -99- 1220 CR –1110- 99-1200 (AR) Reason for Adjustment :______________________________________________________________________________ Requested by: ___________________________________Date:___________ Approvals: ($0 - $2,000.00) Approved by Credit/Collections Manager: ___________________________________Date:___________ (>$2,000.00 - $10,000.00) Approved by VP of Finance: ___________________________________Date:___________ (> $10,000.00) Approved by CFO and EVP Global Sales or SRVP International Operations or EVP Global Services ___________________________________Date:___________ ___________________________________Date:___________ Cancel as a Customer? : 0Yes – Cancel no longer a customer 1No - do not cancel, customer in good standing Entered by: ___________________________________ Date: ___________ Service ID: ___________________________________ Christine on "Bad Debt/Write-Off Form" http://creditmanagementassociation.org/forums/topic/75#post-310 Thu, 14 Jan 2010 23:14:34 +0000 Christine 310@http://creditmanagementassociation.org/forums/ I'm not sure this is what you are looking for...as we do not use such a form... Customer Name ____________________________ ID # ________________ Address _____________________________________________________________ Total Balance Due ___________________________ Date of Last Purchase ________________________ Date of Last Payment _________________________ Comments ___________________________________________________________ ___________________________________________________________ ___________________________________________________________ Write-off Requested by ___________________________ Date: ______________ Approval Signatures: Credit Manager ____________________________ Date ________________________________ Controller ________________________________ Date ________________________________ Sales Manager ____________________________ Date ________________________________ Randy Peinado on "Bad Debt/Write-Off Form" http://creditmanagementassociation.org/forums/topic/75#post-309 Thu, 14 Jan 2010 23:04:31 +0000 Randy Peinado 309@http://creditmanagementassociation.org/forums/ I believe David was looking for a template of a form, not policy, on which to base his own. A starting point, if you will. Rita on "Bad Debt/Write-Off Form" http://creditmanagementassociation.org/forums/topic/75#post-304 Wed, 13 Jan 2010 18:48:50 +0000 Rita 304@http://creditmanagementassociation.org/forums/ I would expect you would want to create or customize your Procedure/Policy and appropriate internal forms based on your company practices. Your form may have specific detail and approval/signatures by the appropriate staff and routing with supporting documentation. Rita Christine on "Bad Debt/Write-Off Form" http://creditmanagementassociation.org/forums/topic/75#post-303 Wed, 13 Jan 2010 16:40:53 +0000 Christine 303@http://creditmanagementassociation.org/forums/ Do you mean a policy/procedure template or some sort of form summarizing the write off for accounting purposes? David Mault on "Bad Debt/Write-Off Form" http://creditmanagementassociation.org/forums/topic/75#post-302 Tue, 12 Jan 2010 22:17:54 +0000 David Mault 302@http://creditmanagementassociation.org/forums/ Hi, Does anyone have a form or template for use in processing bad debt write-offs? I am at a manufacturer selling to retailers, so write-offs will be on debts owed by companies, not individuals. Thanks