Banking: Write-Off Meaning, Process and Balance Sheet Impact
Do you know what WRITE - OFF means and how it's done and what's its impact on banks balance sheet ?
Do you know what WRITE - OFF means and how it's done and what's its impact on banks balance sheet ?
Raghu Pandit · 19h ago
It means bank has forgotten about a particular loan or sum of money & has no probability of getting it back. It has positive impact mostly
Adolf Hitler · 19h ago
@raghupan that's NPA
Anomaly · 19h ago
Banks tax se bachne keliye karte hai , pehela NPA hotihai baad mein bohot month's payment na karneke baad written off karti hai, but loan considered still active no considered as bad debt yet
lohit · 19h ago
A write off (Bad Debt) is an accounting adjustment used for removing non collectible money from the books it is adjusted on both sides as per double entry accounting,it also reduces Sundry Debtors
lohit · 19h ago
@lohit_03 and also it's still recoverable they just adjust the accounting books and keep clean entries