We hereby proposed to write off this debt outstanding from Accounts Receivable, in view that these debts have been under close monitoring and were discussed extensively during the credit control meetings & we have exhausted all efforts for recovery. The account that write off is still within the range of period that require by law to be able to claim VAT when all the legal action is fully complete.
However if some of the debts would be able to settle in the near future then these amount of debts collection will credit to other income account