Write-off and provision for bad debts
Accepting that an invoice will not be paid, and recognising it in the accounts.
Business A to Z
Every trade has words it uses without explaining. In business the cost of not knowing one is real: some of them are ordinary jargon and some of them are a decision that can take a house.
Please note: This page explains what a term means. It is general information, not legal, financial, tax or investment advice, and it does not know anything about your business. Before you sign, file or commit to anything, check it with an accountant, a solicitor, or the official guidance we link to.
Studying business? We write GCSE revision songs, and there is one for business studies. Listen to the revision playlist.
12 terms filed under W, showing 11–12 (page 2 of 2).
W
Wrongful trading
Also called Trading while insolvent, Directors' duties on insolvency
Continuing to trade when you should have known the company could not avoid insolvency. It makes directors personally liable.
Ready when you are
Have a look round the demo, start a free trial with your own service in it, or ask us the awkward question first. Whichever you pick, the people who answer are the people who built it.
Start a free 14-day trial
Your own organisation, every area switched on, no card and nothing to install. Add your team, your people and your records. If it is not for you, it just stops.
Open the live demo
The real suite with a fictional service already inside it. A throwaway login, no form, and everything you touch is wiped when you leave.
Ask us something
Tell us who you support and what is going wrong at the moment. We will say honestly whether we solve it, and if we do not, who does.