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TeachMeFinance.com - explain write-off write-off -- the accounting procedure used when an asset has been determined to be uncollectible and is therefore charged off as a loss. On the books, the amount is removed from the asset portion of a balance sheet and recorded as an expense item on the income statement. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.