Bad debt partially repaid in new fiscal year

Since the bad debt was written off in the last fiscal year, I recommend recording a bank deposit to accurately reflect the receipt of funds, Vonda. I'm here to guide you every step of the way to ensure this is recorded correctly.

If bad debt was repaid after being claimed as such, you can record the recovered funds as income when making the bank deposit. Be sure to include a note in the memo to indicate the payment is for the bad debt from the last fiscal year. Let me walk you through the process of recording a bank deposit.

1. In the left panel, click the +New button. 
2. Choose Bank Deposit. 
3. Pick what account you want to put the money in the Account dropdown. 
4. In the Add funds to this deposit, choose your income account in the Account section and enter the Amount of it. 
5. Make sure to add a note in the Memo. 
6. After that, hit Save and close.

In addition, I recommend contacting your accountant for further assistance with recording the repaid bad debt and to receive advice on handling this matter thoroughly. If you don't have an accountant, I can help you find one with this article: Find a QuickBooks ProAdvisor.

On the other hand, it's important to regularly compare your records with your bank or credit card statements. Ensure everything is accurate and up to date by consistently reconciling your account in QBO.

When it comes to managing bad debt or any other QBO-related concerns, I'm here to support you. Feel free to reach out with any additional questions, and I'll respond promptly in achieving your goals.