Difference between write off and write back

according to me writing off means to close or reduce the account of fictious assets and writing back means taking into account again the asset or liabilty earlier written off

hi

written off is reducing debit balances which are no longer and show as an expenses. however written back is reducing credit balances and claiming as income.

Dear Frind,

Write off means you can say it is Profit  & Write back means Loss.

DIFFERENCE BETWEEN WRITTEN OFF & WRITTEN BACK:

WRITTEN BACK:- IT MEANS TO TAKE REVERSE THE EXCESS PROVISION MADE.

FOR EXAMPLE IF YOU MAKE A PROVISION FOR SUNDRY CREDITORS AND AFTER MAKE ALL ACCOUNTING ENTRIES THE PROVISION FOR CREDITOR A/C REMAINING BALANCE THEN YOU CAN MAKE A REVERSE ENTRY OF THIS BALANCE AMOUNT AND IT MAY IMPACT REVERSE OF THE PREVIOUS ENTRY IN P/L A/C.

WRITTEN OFF: IT MEANS THAT YOU HAVE A BALANCE IN YOUR BOOKS AND IT MAY NOT POSSIBLE TO REALIZED IN FUTURE.

TO CLEAR THE BALANCE IN THE BOOKS OF ACCOUNT THESE TYPE OF AMOUNT CAN BE WRITE OFF.

I THINK NOW IT IS CLEAR THAT ONE IS USED FOR ADJUST THE EXCESS PROVISION AND OTHER IS USED FOR UNREALISED AMOUNT.

REGARDS

RAJESH

Provisions & liabilities are "written back" whereas "write off" is assoiciated with balances i.e. assets which are no longer realisable.

This is what was told to me by my senior once, I hope it is clear.

Hi alok,

Thanks a lot for your reply.

okey

what is provision for creditors???

wat z its nature??

y  z it created??

wat z its treatment??

whr does it appear??

What is the journal Entry to be passed for Write back of creditors(with say Rs. 10,000 Cr.) no longer payabe in books???? 

As far i think write back of creditors is to raise the balance of creditors. So if it is that then entry will be:

P/L  Dr

To Creditors

as to reduce the creditors which are no longer payable we must have passed:

Creditors Dr

To P/L

write off every one knows.

Write back: e.g whre write back is from Revaluation reserve. J/E will be: where we have Reval reserve accoutn and therei s write back

Revaluaiton account Dr.

To P&L Account

dj

If an amount not collectable we can call it as "write off" thro' bad debts. But in the subsquent year if the same amount received we can call back as "write back' & treat it as misc income.

hi,

Professional fees ,bill rececived for Rs.12000/- for quarterly, but booked only Rs.6000/- and TDS deducted on Rs.6000/- from 2006 to 2010 and also TDS deducted when advance  paid. now  in 2010-11-

1)CAN BOOKED DIFFERENCE RS. 6000/- FROM 2006- TO 2010

2) WHAT TDS IMPACT FOR INTEREST & RETURN ?

3) ALLOWED / NOT THIS EXPENSES FOR 2010-11 & WHAT AMOUNT ?

4) OTHER IMPACT IF ANY

An amount that cannot be realised is written off. It is in relation to losses on an asset. A write off may be done by the direct write off method or the allowance method.

In writing back, the value of an asset that has been previously written down (reduced), is raised. There may be tax implications for this write back.