Ledger account

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 July 2014 sir,

i am a student.

i am always confused, preparation of debtor & creditor ledger.

any easy way to avoid confusion.

thanks.

Vishnu Saboo

Vishnu Saboo (Expert)
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25 July 2014 what type of confusion u having?

Querist : Anonymous

Querist : Anonymous (Querist)

25 July 2014 pl. teach, easy way to learn / understand the dr. & cr. ledger & bills receivable and bills payable ledger.

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Querist : Anonymous

Querist : Anonymous (Querist)

25 July 2014 pl. teach, easy way to learn / understand the dr. & cr. ledger & bills receivable and bills payable ledger.

Vishnu Saboo

Vishnu Saboo (Expert)
Follow

25 July 2014 if you sold material, u will debit to debtors, when you received money or he deducted any sum like TDS or any other, you will credit to him.
if you purchasing the material, you have to credit the creditor, when you paid him or deducted any sum from him like TDS or any other deduction , you will debit.
normally debtors have debit balances, and creditors have credit balance, until any advances received/given them.