set-off what does it mean ?
Options
topcat
Registered Posts: 452
can not for the life of remember what set-off means?
here is the context :
"A set-off entry for £175 has been omitted from purchases ledger control account"
if anyone could explain would appreciate it :thumbup:
here is the context :
"A set-off entry for £175 has been omitted from purchases ledger control account"
if anyone could explain would appreciate it :thumbup:
0
Comments
-
Think it would mean the same as 'contra'
If you both sold to and brought from the same company you could 'set off' or 'contra' the balances between owed from and owed to.0 -
of course it is ! thank you crispy :001_smile:0
-
Thanks.The explanation really helps!0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 18.9K For AAT students
- 267 NEW! Qualifications 2022
- 147 General Qualifications 2022 discussion
- 9 AAT Level 2 Certificate in Accounting
- 43 AAT Level 3 Diploma in Accounting
- 65 AAT Level 4 Diploma in Professional Accounting
- 8.9K For accounting professionals
- 23 coronavirus (Covid-19)
- 274 VAT
- 92 Software
- 274 Tax
- 138 Bookkeeping
- 7.3K General accounting discussion
- 194 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 352 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 590 Job postings
- 17 Who can benefit from AAT?
- 36 Where can AAT take me?
- 44 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 65 AAT membership