Exact Globe

PU 501 (Globe+) and 424 (Globe): Bad debt management functionality introduced (Polish legislation)

In Poland, if a debt is not collected within 90 days, it will be considered a bad debt. Tax payers with the unpaid receivables will be able to declare the debt as unpayable, thus reducing the VAT tax.

In this product update, the bad debt management functionality is introduced to retrieve the invoices that have not received any payments from the debtors after 90 days from the sales date. This functionality allows you to generate the bad debt relief based on the uncollectible outstanding invoice amounts. When the debt is settled or payment is recovered later, you can then automate the bad debt recovery entry.

New menu path

The menu path Finance > VAT / Statistics / Bad debt management allows you to generate the bad debt relief or create a bad debt recovery entry.

Bad debt management report

You can view the bad debt management report after you have defined the search criteria in the Bad debt management screen.

You will see the following screen when you click Change:

You will see the following screen when you click Export:

You will see the following screen when you click Zoom:

Deleting entries

You will not be able to delete any entries.

Voiding bad debt sales relief or recovery entries

You are not allowed to void a sales bad debt relief entry if the corresponding bad debt recovery entry exists, and you will see the following error message. You must void the recovered entry first.

XML changes for VAT return

The <DataZaplaty> tag is now introduced to show the payment date in case the sales are recovered. The <DataZaplaty> tag is located under the <SprzedazWiersz> sales section block header, and it shows the value of the date whereby the dates must be reported when the KorektaPodstawyOpodt tag is reported depending whether the invoice is overdue or paid.