Uncollectible Debts

If there are uncollectible fees that were formally forgiven by decision in a condo owners’ meeting, follow the steps below to correctly reflect this in the account statement:

Procedure:

  1. Issue a cash receipt to mark the outstanding fees as paid

  2. Issue a deposit slip in:
    Accounting > Deposit Slips > Process

    • Check the option “Has Expense”

  3. In the expense screen:

    • Select account 68.3.1 – Fee Cancellation
    • Choose the “assembly-approved cancellation” category
    • (Optional) Attach a copy of the meeting minutes as supporting documentation

This way, the fees will appear as settled without negatively impacting the balance, while still reflecting the assembly’s decision.