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Post Info TOPIC: Principles of writing off old creditors
Diona


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Principles of writing off old creditors
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Hello all,

I hope you will be able to help.

Is it ok to clear very old creditors balances from the ledger?

If the amount are real confirmed balances do we need to keep them on the ledger or we can clear them after 6 months?

Thank you!



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BooksByCharlotte


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Hi Diona,

Yes, it's fine to clear old creditors balances if they are no longer due. However, I wouldn't base the write-off solely on time o/s. I would check with my client first.

Hope this helps.



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zaynventure


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Understanding the Principles of Writing Off Old Creditors is crucial for maintaining financial health, just like how top venture capital firms Pakistan strategically manage investments for long-term success.



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venture capital Pakistan
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