uncollectible account


uncollectible account
An account which cannot be collected by a company because the customer is not able to pay or is unwilling to pay. Bloomberg Financial Dictionary

Financial and business terms. 2012.

Look at other dictionaries:

  • uncollectible — adjective not capable of being collected a bad (or uncollectible) debt • Syn: ↑bad • Similar to: ↑invalid * * * I. “+ adjective : not capable of being collected an uncolle …   Useful english dictionary

  • Accounts Uncollectible — Loans, receivables or other debts that have virtually no chance of being paid. An account may become uncollectible for many reasons, including the debtor s bankruptcy, an inability to find the debtor, lack of proper documentation, etc. Before an… …   Investment dictionary

  • bad debt — A debt that is written off and deemed uncollectible ( uncollectible account). Bloomberg Financial Dictionary * * * bad debt bad debt ➔ debt * * *    When a business recognizes that a debt is unlikely to be repaid, the debt is written off as an… …   Financial and business terms

  • debt — A sum of money due by certain and express agreement. A specified sum of money owing to one person from another, including not only obligation of debtor to pay but right of creditor to receive and enforce payment. State v. Ducey, 25 Ohio App.2d 50 …   Black's law dictionary

  • debt — A sum of money due by certain and express agreement. A specified sum of money owing to one person from another, including not only obligation of debtor to pay but right of creditor to receive and enforce payment. State v. Ducey, 25 Ohio App.2d 50 …   Black's law dictionary

  • charge-off — Anything manifesting intent to eliminate an item from assets. Write off of asset or other item, e.g. uncollectible account receivable or debt. To treat as a loss or expense an amount originally recorded as an asset; usually the term is used when… …   Black's law dictionary

  • charge-off — Anything manifesting intent to eliminate an item from assets. Write off of asset or other item, e.g. uncollectible account receivable or debt. To treat as a loss or expense an amount originally recorded as an asset; usually the term is used when… …   Black's law dictionary

  • Bad debt — A bad debt is an amount that is written off by the business as a loss to the business and classified as an expense because the debt owed to the business is unable to be collected, and all reasonable efforts have been exhausted to collect the… …   Wikipedia

  • Accounts receivable — (A/R) is one of a series of accounting transactions dealing with the billing of customers who owe money to a person, company or organization for goods and services that have been provided to the customer. In most business entities this is… …   Wikipedia

  • bad debt reserve — In accounting, a reserve set aside for losses on uncollectible accounts and notes receivable. An account for bad debts is offset by a reserve for bad debts. When accounts become uncollectible they are written off against the reserve. For tax… …   Black's law dictionary