Write Off Unpaid Supplier Invoices

Good afternoon

I have a number of historic, unpaid supplier invoices (ranging between 6 months and 12 months old)

The suppliers have never chased these invoices and I am certain they never will. I intend to raise internal debit notes to write off the invoice values (and pay back the input tax to HMRC that was previously claimed) but am unsure of the following:

 

1) Do I have a legal obligation to notify the suppliers that these invoices have never been paid?

2) Can I write them back to cost of sales or do they need to go to a "write off" account?

 

Thanks

 

 

 

Comments
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is there a money laundering

Carlos_Fandango |

Thanks Carlos

CIMA_Accountant |

Money Laundering?????

zeofiles |

Thanks Zeofiles

CIMA_Accountant |

Immoral

reilloc |

"Immoral" - A bit OTT

paulwakefield1 |

@paulwakefield: re-read the

reilloc |

See the post above your initial post

paulwakefield1 |

Supplier Statements ?

B Roberts |

My point regarding money

Carlos_Fandango |

Do the right thing

henry williamson |

Thanks all for your input,

CIMA_Accountant |

6 year rule

zebaa |

Just checked the The

CIMA_Accountant |

Come on people

zeofiles |

@cima

zeofiles |

Thanks Zeofiles

CIMA_Accountant |

Call the supplier

SashaOJ |

Received goods or services from the supplier?

james.hogan1 |

criminal act?

colingbradley |

You call it stealing but if

CIMA_Accountant |

One customer that comes to

colingbradley |

My understanding has always been ...

Old Greying Accountant |
Old Greying Accountant's picture

Old supplier invoices

Ashraf |

Check your records

ShirleyM |
ShirleyM's picture

Well, by the same token....

mackthefork |

Nothing to do with morals, or business sense..

mackthefork |

Good accountants do not play the system...

mackthefork |

As far as I am aware ...

Old Greying Accountant |
Old Greying Accountant's picture

Is the writing on the wall?

john woolmore |

One can only hope...

colingbradley |

@mackthefork - You say its

CIMA_Accountant |

....

CIMA_Accountant |

FRAUD ACT 2006/ Cima ethics

jimjo |

When you buy something ...

Old Greying Accountant |
Old Greying Accountant's picture

re non payment

john woolmore |

To get back to the OP ...

Old Greying Accountant |
Old Greying Accountant's picture

Okay......

mackthefork |

CIMA Code of Ethics

tanyabarman |

@CIMA_Accountant: I'm really

reilloc |

God, talk about

Cant Add Up |

You call it sanctimonious ...

Old Greying Accountant |
Old Greying Accountant's picture

Thanks all for your input..

CIMA_Accountant |

Heartening

Cube |
Cube's picture