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Accounting treatment against recovery

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Ritesh Mathur

Ritesh Mathur (Querist)
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18 May 2019 Dear Experts please advise

We are doing recovery of some amount from our Vendors or Transporters or Employees against related losses.

Please advise what should be the accounting treatment to book

1. Should I net off / reduce the related expenses
2. Should I show these recoveries in Cr/Income side in P&L as 'Recovery from Customer/Transporter/Employee" under group other income

Amol S Joglekar

Amol S Joglekar (Expert)
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07 June 2019 you can net it off.
But if the amount is substantial, then show separately

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