Medical Bad Debt and Medical Account write-offs.
29 Dec 2007 by Mr. Mark Reeves MICM, Dr.C.A.Jenner MB BS, FRCA
Medical Bad Debt / Write-off Accounts.
Under new Inland Revenue rules, any write off must be with the appropriate entry in your accounting system. Any write off can be made, providing that your patients have been accounted for in your sets of accounts, also should be no more than three years old.
If you intend to write off many accounts over 10% of your turn over, the question may now arise ‘what efforts have been made to recover these debts?, which should include sending the debt to a specialised Debt Recovery agent or Solicitor.
For further free information on bad debt for your practice call Mark Reeves on 07813 112541.
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