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Inter company balance adjustments

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Querist : Anonymous

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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.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
12 May 2012 Yes the balances can be adjusted.
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