Cash Received in a Private Limited Company

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General Manager - Finance
1040 Points Posted on 10 July 2020

Hi All,

I have two debtors of Rs. 50,00,000/- in my books since long time (approx. 4 years), Now Both are ready to pay in cash. Can I received the same if I'll not received then it will be bad debts for company.

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On 10 July 2020 at 17:58 Report
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A company is facing a dilemma regarding two long-standing debtors ready to pay a significant sum in cash. The concern is whether accepting cash is permissible for a private limited company and the implications of refusing it, potentially leading to bad debts. Advice suggests encouraging payment via account payee cheque or other electronic methods to avoid future complications. One suggestion is to accept cash payments spread over 90 days to potentially comply with regulations.

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Junior accountant
135 Points Posted on 10 July 2020
Insist him pay in a/c payee cheque or other mode except received in cash otherwise you get notice in future.
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On 10 July 2020 at 18:32
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Profession
28261 Points Posted on 11 July 2020
Kumar



ask your customer to pay in cash distributed over a period of 90 days.
I hope it will safeguard all other provisions.
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On 11 July 2020 at 12:12

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