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A Write Off is an instruction posted in the time ledger to remove time and expenses from a client account. Click here for the help topic for posting a write off.
A WIP write off therefore shows a 100% under recovery of staff member time. For example, if a staff member amounted £300 of WIP on a clients account and a £300 write off is posted, the practice is recording that they have not received any cash for this time spent on the client.
A WIP write off should not be mistaken with a write out, which is an instruction posted alongside an invoice. Click here for further information on write out.
There are four methods of posting a write off.
Write off to a value
Write off to a date
Write off all
Post an unspecified write off
The write off instruction is entered to the WIP write off as a value in the field provided. The figure entered is the amount of WIP that will be removed from the client account. For example, 500 will remove £500.
This write off instruction provides the most control over the amount of WIP that is removed from the client WIP balance.
The write off instruction posted to a date will remove the WIP posted up to a date, as entered on the WIP write off screen. For example, 20/12/2002.
This method of write off allows you to control when the WIP is removed from the clients account. For example, if a write off is posted to the 30/11/2002 the practice is confident in knowing that all WIP has been removed from this client account up until the end of November 2002.
The write off instruction will remain active until the Time Ledger Period the instruction date relates to is closed.
To write off all place a tick in the write off instruction all outstanding. This will remove all WIP that has been updated to the clients account, to give the client a WIP balance of zero.
An unspecified write off allows you to select the required staff member postings to be written off.
Post the WIP write off leaving the write off fields empty
Update the write off
Match the write off against the timesheet postings.