Going into liquidation??

zhulme
zhulme Registered Posts: 52 ? ? ?
Just a quick question folks if you can help. When a customer goes into liquidation what should we do in our books and who shouls we inform of the liquidation other than the obvious management and accounts team. many thanks

Comments

  • Monsoon
    Monsoon FMAAT, AAT Licensed Accountant Posts: 4,071 ? ? ?
    You want to find out who the liquidator is and get in a claim for any monies you are owed.

    Possibly record a specific provision for doubtful debt (or a straight bad debt if you know the money won't be recovered).
  • zhulme
    zhulme Registered Posts: 52 ? ? ?
    Thanks Monsoon thats great, i did think it would be something pretty straightforward but thought id just check. :)
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