Vat receiveable
This query is : Resolved
04 September 2012
vat receiveable will be included or not in debtors while calculating drawing power of any company/firm.??
04 September 2012
The accounting treatment is the CRUX (Deciding factor). When the account of DEBTOR is debited with GROSS, you have a concrete case of including the same in computing the drawing power.
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04 September 2012
Mostly banks take debtors within 90 days while calculating drawing power,but i want to know that the amount of vat receivable will be included or not in debtors(within 90 days)while calculating drawing power of any firm
05 September 2012
The amount that is debited to Debtors account is GROSS, then this GROSS shall be taken by the banks for calculating Drawing Power.
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