debtors
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 March 2010
Respected CLI member Sir,
How to adjust negative debtors and creditors if shown in books of account.
Thanks in advance
How to adjust negative debtors and creditors if shown in books of account.
Thanks in advance
19 March 2010
find out the reasons for negative debtors & creditors. It could be non- accounting of sales/purchase or advance payments/receipts.
then adjust it accordingly.
then adjust it accordingly.
20 March 2010
SHOW NEGATIVE DEBTORS AS ADVANCE FROM CUSTOMERS. &
SHOW DEBIT BALANCE IN CREDITORS AS ADVANCE TO SUPPLIERS.
SHOW DEBIT BALANCE IN CREDITORS AS ADVANCE TO SUPPLIERS.
20 March 2010
Mr. Jitender and Mr. Sanjay, both have replied perfectly.
Step 1-Identify the reasons for negative Balances.
Step 2: If the balance outstanding is in the nature of advance received/given then adjust these as Advance from Customers(CL) and Advance to suppliers(Advances Recoverable)
Step 1-Identify the reasons for negative Balances.
Step 2: If the balance outstanding is in the nature of advance received/given then adjust these as Advance from Customers(CL) and Advance to suppliers(Advances Recoverable)
24 March 2010
AGREE WITH EXPERTS
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