Going into liquidation??

zhulme

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

Monsoon

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

Thanks Monsoon thats great, i did think it would be something pretty straightforward but thought id just check.