ADVANCE PAYMENT OF SUNDRY CREDITOR
This query is : Resolved
shivshanker
(Querist)
20 April 2011
IF ANY PAYMENT MADE ADVANCE AGAINST PURCHASE BUT PURCHASE THINGS WE DIN'T RECD YET.
SO KINDLY TELLS US WHAT IS THE ENTRY THAT IS MY S. CREDITORS OR SUNDRY DEBTORS
HOW THE ENTRY WILL PASS IN ACCOUNTS BOOKS..
PLS SUGGEST ME
THANKS..............
SHIV
but what is provision in balance sheet
or ledger under s. creditor or any thing else..
thanks for reply.....
SO KINDLY TELLS US WHAT IS THE ENTRY THAT IS MY S. CREDITORS OR SUNDRY DEBTORS
HOW THE ENTRY WILL PASS IN ACCOUNTS BOOKS..
PLS SUGGEST ME
THANKS..............
SHIV
but what is provision in balance sheet
or ledger under s. creditor or any thing else..
thanks for reply.....
20 April 2011
It will be creditors only. It is an adavcne against PO. If the PO is for acquisition of Fixed assets then it is your capital commitment.
Entry will be
S creditors A/C Dr
To Bank account.
Entry will be
S creditors A/C Dr
To Bank account.
shivshanker
(Querist)
21 April 2011
thank you sir
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