Sundry crs. write back
This query is : Resolved
CA Roshan Jha
(Querist)
13 June 2012
Is there any way to write back sundry creditors without raising the income? The creditors have already been paid but their accounts are still standing in books.
14 June 2012
If they were paid then where was the payment debited?
What was the impact in income statement at that date?
Above approach in questions will address the issue.
Write back of creditors will be Other income unless there is an evidience of wrognly debited the payment as expenditure and thus take the credit by reducing the expenditure account.
What was the impact in income statement at that date?
Above approach in questions will address the issue.
Write back of creditors will be Other income unless there is an evidience of wrognly debited the payment as expenditure and thus take the credit by reducing the expenditure account.
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