Sundry creditors write off
This query is : Resolved
Jogesh Jain
(Querist)
28 November 2013
Dear Sir,
The Payment has given to Auditor for audit fees Rs 5000/- bu they have booked exp in P/L A/c as Rs 7500/- in the F.Y-2012-2013.
Now my query is is there any way to adjust the creditors in the same financial year or any other way to adjust
Kindly advise as soon as possible.
The Payment has given to Auditor for audit fees Rs 5000/- bu they have booked exp in P/L A/c as Rs 7500/- in the F.Y-2012-2013.
Now my query is is there any way to adjust the creditors in the same financial year or any other way to adjust
Kindly advise as soon as possible.
Ganeshbabu K
(Expert)
28 November 2013
writeoff 2500 and treat it is miscellenous income
Manish Bhandari
(Expert)
28 November 2013
You can write back it as income under the head excess provision written back and book it as income.
Jogesh Jain
(Querist)
29 November 2013
Thanks for your reply but plz explain me when should I pass the entry i.e in which financial year. Explain me Plz
If I pass the entry in F.Y-2012-2013 my Income will increase and exp drop down which will unmatched the Net Profit of Tally with Net Profit of auditors sheet.
Plz explain me in detail
If I pass the entry in F.Y-2012-2013 my Income will increase and exp drop down which will unmatched the Net Profit of Tally with Net Profit of auditors sheet.
Plz explain me in detail
Ganeshbabu K
(Expert)
29 November 2013
THIS WRITTEN BACK ENTRY SHOULD BE PASSED IN F.Y.2013-14
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Due date for filing return for the partner in partnership subjected to Tax Audit
- GST on reimbursement of expenses
- Query on effect of registration of property
- Visiting card purchase
- Whether output tax is taken credit by purchaser
- Number of years as per AS amortisation of Goodwill
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Equity Share Sale and Purchase
- Additional trade name
- Wrong CMPo8 file
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
