Tech

How Does Writing-Off Bad Debts Works

How Does Writing-Off Bad Debts Works

Bad debts are often considered toxic debts since they can no longer be collected. That is why the Generally Accepted Accounting Principles (GAAP) require lending companies to hold a reserve to treat these expected future bad loans.

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How to Write-Off Bad Debts

How to Write-Off Bad Debts

A debt write-off procedure can be done in two ways: Direct write-off method and Provision method. The two methods have different approaches which will be further discussed in this article.

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Ways on How to Prevent Insolvency

Ways on How to Prevent Insolvency

Insolvency is really a serious matter that business owners must consider. It is crucial to always monitor your company’s assets to make sure you can still pay all your obligations. Thus, this article will guide you on how to prevent insolvency in your business.

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