One of our cliens has old dues payable to us of last financial year.
To maintain healthy business relationship, management has decided to waive the amount, what should be the treatment in books of accounts.
One of our cliens has old dues payable to us of last financial year.
To maintain healthy business relationship, management has decided to waive the amount, what should be the treatment in books of accounts.
u have to write of that balance by passing JV...as sundry balances write off a/c dr...
to debtor a/c.. cr
or u can show as bad debt also..
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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