Write off sundry creditor

u have to write off the individual creditors account by the debiting their account and credit the Creditor Write back A/c . please also keep in ming the tax implication of writting off the creditors. it might be considered as ur income. Please tell me if any other opinion is there...

U may Also Adjust Creditor written off with bad debts or transfer to PL Accounts

I agree with Sonu regarding writing off the creditors account against bad debts if any or book as profit.

Harpreet,

What should be the tally GROUP for "Creditor Write back A/c" Cr 100000?

What should be the tally GROUP for "Creditor Write back A/c"?

Somebody please reply this.

"Indirect Income"

depand on creditors or debtors. accordingly will be passed the entry.

Debit Creditors a/c and Credit Creditors write back a/c

Sir,

If we pass the entry debit creditor's account and credit Creditors write back account it's again a balance arise in the ledger of creditors write back account so how to fully remove from the balance sheet.  Please let us know more..?

Three possible solutions I have found out- i) credit the balance directly to pl a/c...in that way you have to pay income tax on it...ii) we can directly credit it to capital a/c but not sure abt the implications..iii) we can adjust the balance with cash..