Close a/c
This query is : Resolved
02 January 2013
i want know that how to close the old/past creditors dummy accounts.
CA Priyank Singhi
(Expert)
02 January 2013
If you are not paying your creditors, you can write them off in your books of account.
Pass a journal:
Creditors A/c Dr.
To Sundry Balance W/Off
Sundry balance W/off will then be closed by transferring this amount to your P/L A/c and accordingly treated as your income.
Pass a journal:
Creditors A/c Dr.
To Sundry Balance W/Off
Sundry balance W/off will then be closed by transferring this amount to your P/L A/c and accordingly treated as your income.
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