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Provision for bad debt and written off bad debts fy 2015-16

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(Querist)
22 September 2016 Dear Professionals,

My company made sales in 2014 but the debtor dose not paid any amount to the company till date.
can the company treat that amount as bad debt ? by debiting to P&L A/c
How the amount debited in P&L A/c will be closed later ?

Please Advice me regards this issue.
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Amol S Joglekar

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Amol S Joglekar (Expert)
22 September 2016 if the amount is not recoverable, the company can claim it as Bad Debt.
Debit Bad Debt
Credit The said Debtor's account.

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