Balance sheet in tally
This query is : Resolved
10 March 2015
Some time cash in hand, sundry debtors shown into the liabilities side in balance sheet in the tally. Why?
11 March 2015
Assets have always debit balance and shown in assets side. But if it shown on liabilities side that means there is credit balance
Credit balance in sundry debtors happens only when there is excess amount received from them against bill amount or payment is received in advance.
However cash can never has credit balance, as one can not spend more than balance available with him.
Credit balance in sundry debtors happens only when there is excess amount received from them against bill amount or payment is received in advance.
However cash can never has credit balance, as one can not spend more than balance available with him.
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