Please review other policies on the web and find sample policies of other companies and create a policy that walks through the criteria that needs to be examined in client's accounts each quarter and what criteria once met would deem it eligible for write off. Once determined eligible for write off. What are the steps for writing off the account, who is eligible to approve the write off, what documentation is required for the write off. The policy also needs to cover what will happen if the money is later collected or recovered? We already have a large financial policy - this will be a small financial policy just dealing with this small area.
I am open to ideas from other companies about their policies. I know this for sure:
1. Any account over 120 days old with no payment and no communication is open for a write off
2. Any account where the client is deceased is open for a write off.
3. An account where the client has requested and been approved for an adjustment due to 'need' may be open to a full or partial write off
4. any account with a balance of less than $2.00 is eligible for a write off