Advance from Cusotmer and Advance to Supplier


This query is : Resolved 

Quick Summary
This discussion clarifies the accounting treatment for advances. It addresses whether advances received from debtors should be classified as 'Other current assets' or 'Other non-current assets'. It also seeks to determine if advances paid to suppliers fall under 'Other current liabilities' or 'Other non-current liabilities'.

29 March 2023 Sir,

Please tell us Received advance from Debtors is Other non-current assets OR Other current assets and Paid advance to Supplier is Other current liabilities Or Other Non long-term liabilities




29 March 2023 1. Other current assets,
2. Other current liabilities.

08 April 2023 Thank you Sir for reply

08 April 2023 You are welcome.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
15 September 2026
Client-site CA associate

Aditya Muley and Co

Mumbai

CA

View Details
Company
24 August 2026
Semi-Qualified CA/CA Finalist - Tax, GST, Audit & Accounts

Bharat Shah & Associates

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 24 August 2026
Article Assistant

M/s.S.G.Salecha & Co.

Mumbai

CA Inter

View Details
Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details
Company
Featured 11 September 2026
Audit Executive

RBSM Corporate Advisors Private Limited

Pune

CA

View Details
Company
ARTICLESHIP 15 September 2026
Freelance Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 26 August 2026
CA Article Assistant/CA Drop Out/Accounts Executive

PARV & Co.

New Delhi

CA Inter

View Details
Company
17 September 2026
Chartered Accountant

Dass Gupta & Associates

Gurgaon

CA

View Details