What is the entry in tally when we want to close the ledger balance of a sundry creditor. We are not going to pay the amount of a particular invoice but the purchase entry has been made. how to close.?... and . what ledger needs to created to write off such amount
thanks a lot
suresh
Debit Creditor's a/c and credit the ledger-Liabilities W/o. It will be treated as Income in P&L A/c.
Purchase entry to be reversed. It will shown in Vat return also. vat should be reversed. if central purchase no C Form to be issued.
hello is goods are returned back to creditor
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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