Dear Sir,
what are the procedure to write off amount parked in Sundry Creditors for many years without any transaction.
regards
Solomon. A
3 Replies
Mihir
(Wealth Manager)
(5293 Points)
Replied 05 June 2014
You may pass a JV to give the effect creating an income.
Amol Gopal Kabra (CA,CS,DISA)
(Practicing CA)
(8539 Points)
Replied 06 June 2014
You need to treat it as amounts no more payable and hence treated as income. Pass a journal entry.
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