Writing off Supplier Liability

jimmeboy

Registered User
Messages
20
Hi all,

Earlier in the year we had a supplier mess us around which resulted in us refunding many customers for their orders and getting a solicitor involved to cancel our contract with the supplier. We haven't received any response from the supplier after sending the solicitors letter.

I wanted to know how long we should/can leave this liability (to the supplier) on our books before it is written off?

Obviously, this will all be run past the accountant but just wanting to get ahead of the game at the moment and also like to have some info on these matters prior to meeting with our accountant.

Appreciate any insight.

Cheers!
 
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