Past Due Invoices

[jldodge]

I am new to Peachtree Complete Accounting. We setup my wife's business and in the haste last year to get all the data loaded for tax purposes, I incorrectly setup the invoices and did not properly post the payments. As for the revenues and expense, we were okay. However, now I have a large number of invoices that are past due. I'd like to "clear out" the invoices prior to 2001 and then make sure that those for 2001 are recorded properly. How do I do this without "writing off" as bad debt which will create some inappropriate balance sheet entries? Can I "delete" them from a file as if they were never there? OR, should I simply declare them as a loss and then make the corresponding entry to reverse the accounting when I write them off? Any other help or suggestions would be appreciated.

Thanks in advance ....

 

[taxlawyer]

I have exactly the same problem since I'm cash basis. I don't get a deduction for bad debts. You can't seem to delete an old invoice. I'm doing the write-off, creating the "bad debt", and then journal entrying it out! If anyone else has a solution, let me know!!