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Is it possible to clear or write off Interest invoice?

What are the steps to write off or clear either interest only invoices or interest that will not be received?

 

Cause:  When the original invoice was billed, interest was billed on the invoice as well.

Resolution:  Clear using a negative Invoice.  Steps are as follows:

1. Process a negative invoice for interest Only.  Reference the same date, project, Interest section and invoice number. In the interest line, do not enter an account number since this is a 'memo' entry and enter the negative amount. Close and post that invoice file. 
2. If the interest only invoice was generated out of Interactive Billing, go to Invoices on File and void that invoice.  Then post the invoice file.

Note:

If left unpaid, interest on an invoice with other charges will automatically clear from the invoice as interest is not expected to be paid by the client.