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Assets & Liabilites

This query is : Resolved 
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(Querist)
28 March 2023 Dear Sir,

received Advance from Customer is Other long-term liabilities OR Other current liabilities and Advance to Supplier is Other non-current assets OR Other current assets

Please suggest
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Aashok Kumar Sharma online

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Aashok Kumar Sharma online (Expert)
20 August 2023 Advance from customer - Current Liability (Or it can be shows as reduction in AR) Advance to Supplier - Current Assets (Or it can be shown as reduction in AP)
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