Hello there, we are in IFS Cloud. We are using the "Bad Debt Management" screen to "Transfer Bad Debt". The voucher created behind the scenes is;
Dr PP15 Bad Debt Expense
Cr IP2 Trade AR
However, we are looking for a bad debt provision function in IFS. The voucher we are expecting is:
Dr Bad Debt Expense
Cr Allowance For Uncollectible Accounts (Asset Acct)
Once confirm the uncollectible payment from the Customer:
Dr Allowance For Uncollectible Accounts (Asset Acct)
Cr Trade AR
Is there a bad debt provision function in IFS that will trigger the JE as above? Thank you!
