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Negative balance in Creditors Accounts

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(Querist)
21 February 2009 If for a regular vendor, as on b/s date balance appears to be -ve i.e. debit, is it to be shown under "Advances recoverable" separately from creditors list ??

Is the same treatment we have to show by segregating the -ve balance in case of debtors, showing them as "Advances from Customers"??
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
21 February 2009 No before segregating you should find out what for the excess is. suppose it is pure advance then you can show it as advance form customers. Suppose A instead of paying 10800 he has paid 11800 then that 1000 is not advance and that excess has to be shown under debtors itself as credit balance in detbors account.
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