Difference
This query is : Resolved
13 June 2015
hi what is difference between sundry creditors and trade creditors
13 June 2015
'Trade Creditors' refers to the creditors of your day-today operations.
For eg:-, if your business is trading, the suppliers of your goods are the Trade Creditors for you.
On the other side, 'Sundry Creditors' means the other creditors who are not related to the day to day business activities. I.e, creditors for purchase of Fixed Assets etc.
Hope it is clear :)
For eg:-, if your business is trading, the suppliers of your goods are the Trade Creditors for you.
On the other side, 'Sundry Creditors' means the other creditors who are not related to the day to day business activities. I.e, creditors for purchase of Fixed Assets etc.
Hope it is clear :)
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13 June 2015
A trade creditor is a supplier who has sent your business goods, or supplied it with services, who you haven't yet paid. The amount that goes on your business's balance sheet for trade creditors is the sum of all its unpaid invoices from suppliers, as at that point in time
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13 June 2015
Sundry debtors might refer to a company's customers who rarely make purchases on credit and the amounts they purchase are not significant. I suspect that the term sundry was more common when bookkeeping was a manual task.
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