Sundry debtors & sundry creditors
This query is : Resolved
10 September 2012
Dear Sir,
what i have to treat if Sundry Drs shows Debit balance and Credit balance
What i have to treat if Sundry Crs shwos Credit balance and Debit Balances
Could plz explain
what i have to treat if Sundry Drs shows Debit balance and Credit balance
What i have to treat if Sundry Crs shwos Credit balance and Debit Balances
Could plz explain
10 September 2012
Sundry Debtors normally shows Debit Balance only. But the Sundry Debtors balance, if Credit, it means that You have received advance from your customer for which Goods or services yet to be delivered.So show such credit balance in Debtors account under current liability under "Advances from Customers".Likewise the Debit balances in Sundry Creditors is shown under LOANS AND ADVANCES Grouping: under "Advances for Supplies.".You may expand this.
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11 September 2012
thank you very much sir
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