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suryagaurav (manager)     28 April 2011

where to post advocate fee in cooperative society,

sir,

    I am for a cooperative society, the concern is provide me legal fee for s. a38 cheque bounce cases in delhi. and now they asking me where to post its head of legal charges(means to make the fee receivable towards accused concerned or to its expenditure head, they want to charge it from accused as he is the wrongdoer , not every member so why to share that expense by shareholders)

please guide



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 1 Replies

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     14 May 2011

Are you going to wait till the accused pays it?  I think not. If you present your bill they have to pay you right away and show it as expenditure. If they hope to receive the amount from the "accused", they should also show the amount as "amount receivable" on the assets side of the balance sheet. In due course if they find that the amount is not recoverable, they should write it off with the approval of the General Body.


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