Set up of creditors & debtors

This query is : Resolved

Jogesh Jain (Querist)
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14 May 2014 HELLO ALL,
I HAVE A QUERY. IN MY COMPANY THERE ARe lots of DEBTORS(DR BALANCES) FOR LAST 4 YEARS AND LOTS OF CREDITORS(CR BALANCES) FOR LAST 4- 5 YEARS.
IN F.Y-13-14 I HAVE TO SET UP BOTH.CAN IT IS POSSIBLE TO WRITE OFF. IF YES HOW IT IS POSSIBLE
PLZ ADVICE WITH ADJUSTMENT ENTRIES AND ALSO EXPLAIN THE HEADS WITH SECTION.

I DARE TO KNOW.....PLZ

Sandeep Dharar

Sandeep Dharar (Expert)
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14 May 2014 How can u set off the 2.

U can set off the Debtors by posting them to Bad Debts. But u must have to pay the Creditors.

r both Dr. & Cr. same parties?

Jogesh Jain

Jogesh Jain (Querist)
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14 May 2014 NO SIR

THEY ARE DIFFERENT.JUST I WANT TO WRITE OFF.
PLZ TELL ME THE ENTRIES TO BE PASS IN TALLY TO WRITE OFF.

Sandeep Dharar

Sandeep Dharar (Expert)
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14 May 2014 Then u can't write off the Creditors. U must have to pay them.

For Debtors write off:-

Bad Debts Dr
To Debtors

Jogesh Jain

Jogesh Jain (Querist)
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14 May 2014 THANK YOU SIR FOR THIS HELP

Sandeep Dharar

Sandeep Dharar (Expert)
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14 May 2014 Ur welcome friend

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