What is Write off? In simple, Write off is a process of reducing non-recoverable balance lying on the Asset Side of the Balance Sheet. The write-off in Accounting will happen by Debiting the Expense & Crediting underlying Assets, of which value is getting reduced. Write off Debt In Business / Profession, several transactions took place in regard to Purchase & Sales. Usually, the Sale of Goods or Supply of Service is on credit. All the Credit Sales are recorded as Receivable on the Asset side of the Balance Sheet. In…
Continue Reading.....Write off | Write off debt
