Inter company balance adjustments
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 December 2011
dear experts,
can we adjust balances existing among sister concern companies under same management.
For example
1)company "B" having debit balance of Rs.50000/- in Company "A" books and
2)Company "B" having credit balance of Rs.10000/- in Company "C" books.
3)Company "C" having credit balance in Company "A" books.
All companies are under same management.
Can we set off their credit balances against debit balance.
can we adjust balances existing among sister concern companies under same management.
For example
1)company "B" having debit balance of Rs.50000/- in Company "A" books and
2)Company "B" having credit balance of Rs.10000/- in Company "C" books.
3)Company "C" having credit balance in Company "A" books.
All companies are under same management.
Can we set off their credit balances against debit balance.
12 May 2012
Yes the balances can be adjusted.
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