Write-off: definition, example, and why it matters
Common write-offs: bad debt, obsolete inventory, broken equipment. Reduces taxable income. Always document the reason and date.
- Short definition. Removing an asset, expense, or uncollectible debt from the books.
- Category. Write-off is a accounting term used by service businesses when billing customers.
- How Glo Invoice handles it. Glo Invoice builds write-off into the invoice itself, so you don't track it on paper or in a spreadsheet.
Frequently asked questions
What does write-off mean?
Common write-offs: bad debt, obsolete inventory, broken equipment. Reduces taxable income. Always document the reason and date.
