Reserve for doubtful debt
This query is : Resolved
sushil upadhyay
(Querist)
29 January 2015
Dear sir
I want to Know creating reserve for doubtful debt,its showing in the books from more than one year.
My querry , till what periad reserve for doubtful debt can be recorded ?
Thank in adv
regards
sushil upadhyay
I want to Know creating reserve for doubtful debt,its showing in the books from more than one year.
My querry , till what periad reserve for doubtful debt can be recorded ?
Thank in adv
regards
sushil upadhyay
sushil upadhyay
(Querist)
29 January 2015
Plessss give me Reply Its argenent
03 February 2015
As per law, receivables and payable get time barred in 3 years. BUt there is no time rule for keeping debtors in your books and providing for bad debts as long as you expect recovery from such debtors. Your auditor may give comment in audit report stating that the receivables are time barred.
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