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Paid to suppliers but service not received
If we had made the payment to supplier but service not received and not going to be receive then what accounting need to be done in books of supplier.
Replies (4)
Quick Summary
Pls explain
It has to be considered as advance on payment..
If it's not going receive either service or advance then written of as bad debts
If it's not going receive either service or advance then written of as bad debts
If you have given any advance for service to be received in cash or kind then it will shown as Advance to suppliers for service /supply to be received.
If advance is not recoverable then written off it .
If advance is yet to be reimbursed by supplier then adjust it in the advance on reimbursement
If advance is yet to be reimbursed by supplier then adjust it in the advance on reimbursement
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