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Small dollar write-off

Updated on January 18, 2022

There are two types of automated write-offs for small dollar differences:

  • On Entry – Within a flow, a write-off threshold that if satisfied, automatically offsets a suspense debit or credit entry with an entry to the write-off account or adjusts a party’s account with a corresponding entry to a write-off account.
  • On Lower (draw-down) of an open suspense balance – A write-off threshold that if satisfied, automatically closes the suspense entry by writing off the remaining difference following a drawdown of the outstanding balance.

In each case, a small dollar threshold is defined for the highest dollar amount that you can write off. When you install Accounting, the On Entry threshold is set to $50 and the On Lower threshold is set to $20. The processes are enabled for all financial workflows and customer initiated non-financial workflows on entry and open suspense payable and receivable entries for drawdown.

For initial deployment, update the thresholds and workflows to reflect your institution’s requirements.

Accounting records affected are:

Map value rules

  • Map value rules
  • WriteOffOnLower

The following screen shot shows the threshold rule for the write-off on entry.

The following screen shot shows the rule for the write-off on lower.

Note: To remove the write-off evaluation from a workflow, delete the SmallDollarWriteoff flow element from the flow diagram of the workflow. To add to a diagram, the recommended practice is to perform the evaluation before requiring the system to perform additional work that will not be necessary if the write-off is performed. To deactivate the WriteOffOnLower feature from suspense processing, set the default value to 0.00.

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