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- ve debit balance

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 November 2014 I found a statement of final accounts where Advance shows -ve 5000 dr. what does it mean?
is it maintained according to accounting standard?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
04 November 2014 it means you have received amounts in excess of the due amount....
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Querist : Anonymous

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Querist : Anonymous (Querist)
05 November 2014 is it performed according to accounting rules?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
05 November 2014 it is ok as such...but ideally it should have been transferred to the other side of the balancesheet as a positive amount.

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