How to present in Balance sheet as per scheduled III and under which head

This query is : Resolved

Daya (Querist)
Follow

18 June 2025 How to present in balance sheet as per scheduled III and under which head
Excess received from Trade Receivable or excess paid to Trade payable.

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
Follow

12 August 2025 1. Excess received from Trade Receivables
Meaning: You have received more money than the invoiced amount from a customer.
Presentation in Balance Sheet:
It should be shown under Current Liabilities, because you owe this excess amount back to the customer unless it’s adjusted against future invoices.
Suggested Head:
“Other Current Liabilities” or a sub-head like “Excess Received from Customers” under Current Liabilities.
2. Excess paid to Trade Payables
Meaning: You have paid more than the invoiced amount to a supplier.
Presentation in Balance Sheet:
It should be shown under Current Assets, as this is a recoverable amount (like a receivable from supplier).
Suggested Head:
“Other Current Assets” or a sub-head like “Excess Paid to Suppliers” under Current Assets.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now