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Over due creditor w/off

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 February 2012 A pvt. ltd. co. shows in balance sheet over dues creditors, which in fact not payable but standing in books. Co. want to write off these creditors before march-12. What is the way to write off creditors which no more payable. please advise.

thanks
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
22 February 2012 Need to write back the creditors as show as income
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