Ca Articleship
16 Points
Joined December 2023
1. Generally, Sundry Creditor should show credit balance as it is a liability. But in your accounts, if it is showing debit balance means
i) You have paid more than actual liability or
ii) You have forgotten to enter any other purchase or like transaction in your accounting or
iii) You have paid with interest and forgot to account it
2. Payable is something related to liability so it will impact our balance sheet on liabilities side. So it should show credit balance.