Creditor balance write off


I have a creditors balance on my balance sheet. How do I write this off if I have to? Or partially write this off ?


Have you tried the credit note option on the relevant invoices?

No because the balance of this creditor was imported via a trial balance… so need to somehow write off the balance

Journal is a good option, for example, let’s say it is a creditor from purchases, you need to make a journal to have a reverse effect of the original transaction.
Dr Creditors control a/c
Cr purchases (net amount if vat is applicable, else gross value)
Cr Vat (if applicable)

It’s not purchases. The creditor balance is under ‘other creditors’ imported by way of a trail balance import

Again just take the reverse route of original entry

Dr Other creditors
Cr what ever got Dr in original entry

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As it is was first imported via a trial balance, can’t see how I can reverse it without it still appearing somehow on the balance sheet. The balance is accrued expenses which was input wrong originally by mistake, then imported to this new software…. I thought I could deal with it within this new platform instead of going back…

You just Cr. whatever the incorrectly accrued expenses was, eg if it was accrued telephone you just Dr. Other creditors Cr. Telephone. It doesn’t matter that it was imported via a trial balance.

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