BDRH76021
Dec 10, 2007, 08:30 AM
What is the purpose of an offset account in an accounting system?
rsenn
Dec 10, 2007, 02:36 PM
What is the purpose of an offset account in an accounting system?
Generally it is to record an allowance for estimated valuation differences or usage allowances.
Examples would be allowance for doubtful accounts, accumulated depreciation, and allowances for market value losses in portfolios.