Adv.payment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 March 2012
Sir
we paid to one supplier Rs10,000/- after that there is some problem happend and they filed case aganist us.so at the end of the year how i will account this amount which entry i have to pass at the end of the year.
Thank you
we paid to one supplier Rs10,000/- after that there is some problem happend and they filed case aganist us.so at the end of the year how i will account this amount which entry i have to pass at the end of the year.
Thank you
11 May 2012
It shall be shown as advance payment. Only when it is certain that the amount is irrecoverable, the amount shall be written off as bad debt.
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