How to Write off incorrect opening debtor balance
Our company moved from paper records to computer records for our accounting a couple of years ago in 2011.
We have found out that our opening trade debtor balance was overstated by 2k but have no idea what this relates to as a past accountant was doing the books.
We therefore want to write this 2k off in this financial year. Would the correct entry be to credit trade debtors and debit bad debts?
Thanks a lot for any advice.