write offs

Follow

Mary Prendergast

• April 18, 2022 08:57

are write offs for client balances tax deductible, both the difference between the fee and insurance reimbursement and the unpaid balances that become uncollectable...

0

• 

  Nicole Bennett

  • April 18, 2022 20:22

  yes - same question. and if so, how do we generate a report of write offs for said tax deductions.

  1

  Comment actions Permalink
• 

  Harley Strickland

  • April 28, 2022 16:07

  and how do we view all write offs? there used to be a function in reports appointment status but that has been removed

  0

  Comment actions Permalink
• 

  Wendy Belding

  • May 12, 2022 20:01
  • Edited

  Hi,

  Usually not.  It depends on if your accounting is "cash" or "accrual."  99% of people are "cash" accounting.  In that case, write-offs don't matter.  You only report actual cash paid and only need to figure actual cash paid (for accounting/taxes).

  If you are "accrual" accounting, then you report the full amount charged each period, and subsequently need to adjust down to the amount paid.  That's where the write-off comes in (in terms of accounting/taxes).

  Write-offs are still important to track in S/P even if your accounting is cash because a session isn't "closed out" until it is "zero'd out" meaning:

  "Client Payments (if any) + Insurance Payments (if any) + Write Off (if any) = Amount Charged."

  The session will still show as "open" until the above is met.

  1

  Comment actions Permalink
• 

  Maddison Adimora

  • October 11, 2022 11:43

  In a previous thread there was a comment made by a simple practice biller that stated that we would receive an end-of-the year tax document that will include write-offs. Is this to be true?

  0

  Comment actions Permalink

Please sign in to leave a comment.