Should one create each customer account under Debtors on while passing the sales entry if the a vehicle dealer wants to keep record of the customer details.Please suggest the most practical entry that needs to be passed.
Pranjal (Student CA IPC / IPCC) (531 Points)
04 December 2014Should one create each customer account under Debtors on while passing the sales entry if the a vehicle dealer wants to keep record of the customer details.Please suggest the most practical entry that needs to be passed.
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(3303 Points)
Replied 15 December 2014
For credit entries only name of the debtor should be debited and credit sales account. In case of cash sales, Debit bank account and credit sales account dealers accounting books.
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