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Discussion > Accounts > A/c entries >

Difference between write off and write back

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service

[ Scorecard : 216]
Posted On 05 July 2008 at 20:46 Report Abuse

Hi every one,

Please help me in knowing what is the differnce between amount written off and written back.

Pl comment


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Member (Account Deleted)

[ Scorecard : 60]
Posted On 06 July 2008 at 13:32

according to me writing off means to close or reduce the account of fictious assets and writing back means taking into account again the asset or liabilty earlier written off





ashish harkare
Service

[ Scorecard : 28]
Posted On 06 July 2008 at 13:56

hi

written off is reducing debit balances which are no longer and show as an expenses. however written back is reducing credit balances and claiming as income.




(Guest)
Posted On 06 July 2008 at 21:51

Dear Frind,

Write off means you can say it is Profit  & Write back means Loss.




Member (Account Deleted)

[ Scorecard : 13285]
Posted On 07 July 2008 at 10:22

DIFFERENCE BETWEEN WRITTEN OFF & WRITTEN BACK:

WRITTEN BACK:- IT MEANS TO TAKE REVERSE THE EXCESS PROVISION MADE.

FOR EXAMPLE IF YOU MAKE A PROVISION FOR SUNDRY CREDITORS AND AFTER MAKE ALL ACCOUNTING ENTRIES THE PROVISION FOR CREDITOR A/C REMAINING BALANCE THEN YOU CAN MAKE A REVERSE ENTRY OF THIS BALANCE AMOUNT AND IT MAY IMPACT REVERSE OF THE PREVIOUS ENTRY IN P/L A/C.

WRITTEN OFF: IT MEANS THAT YOU HAVE A BALANCE IN YOUR BOOKS AND IT MAY NOT POSSIBLE TO REALIZED IN FUTURE.

TO CLEAR THE BALANCE IN THE BOOKS OF ACCOUNT THESE TYPE OF AMOUNT CAN BE WRITE OFF.

I THINK NOW IT IS CLEAR THAT ONE IS USED FOR ADJUST THE EXCESS PROVISION AND OTHER IS USED FOR UNREALISED AMOUNT.

REGARDS

RAJESH




ALOK GULATI
student

[ Scorecard : 75]
Posted On 07 July 2008 at 16:19

Provisions & liabilities are "written back" whereas "write off" is assoiciated with balances i.e. assets which are no longer realisable.

This is what was told to me by my senior once, I hope it is clear.




Satyendra sahu
service

[ Scorecard : 216]
Posted On 08 July 2008 at 22:44

Hi alok,

Thanks a lot for your reply.




preneeja
student

[ Scorecard : 21]
Posted On 10 October 2010 at 08:52

okey

what is provision for creditors???

wat z its nature??

y  z it created??

wat z its treatment??

whr does it appear??




M.Muthukumar
Chartered Accountant

[ Scorecard : 78]
Posted On 17 February 2011 at 15:03

What is the journal Entry to be passed for Write back of creditors(with say Rs. 10,000 Cr.) no longer payabe in books???? 




AVIJIT
CA FINALIST

[ Scorecard : 366]
Posted On 18 February 2011 at 17:43

As far i think write back of creditors is to raise the balance of creditors. So if it is that then entry will be:

P/L  Dr

To Creditors

as to reduce the creditors which are no longer payable we must have passed:

Creditors Dr

To P/L



Total thanks : 1 times


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