You can write off a receivable.
This would be necessary in the following circumstances, for example:
If you have been unable to collect an outstanding remaining amount of the receivable
If you have been unable to collect the complete receivable amount and do not want to cancel the receivable
When you write off a receivable, the collections and disbursements system creates a clearing document for the outstanding amount. This means that no open receivable now exists in the collective subrogation/recovery.
You have posted the subrogation/recovery receivable, it has the status
Requested
or
Partially Received
(see
Status of Subrogation/Recovery Receivable
).
You are working in collective subrogation/recovery processing on the
Settlements
tab page.
In the
Settlement Overview
section, double-click to select the settlement whose subrogation/recovery receivable you want to write off.
Choose
with the quick info text
Write Off
.
The subrogation/recovery receivable is given the status
To Be Cleared
. Once you save the data, the subrogation/recovery receivable has the status
Cleared
.
The collections and disbursements system creates a clearing document.