I have open invoice that have not been paid, how do I report this as a loss?

I'll show you how you can record the loss invoice, @south bay driveline.

You'll need to record a bad debt or write off bad debt as a deduction. This way, your accounts receivable and net income stay up to date. Let me guide you how.

1. Create a bad debts expense account

2. Create a bad debt item

3. Create a credit note for the bad debt

4. Apply the credit note to the invoice

5. Run a bad debts report

Refer to this article for the detailed steps: Write off bad debt in QuickBooks Online.

Here's what it looks like:

Here's a link that'll help you understand accounts receivable.

In case you need help with managing customer-related tasks, feel free to browse this link to go to the page. It has our customer topics with articles: Topics about your company's income and customers.

I'll be around if you have other questions or concerns with invoices, so don't hesitate to reply. Take care and be safe.