Multiple accounts

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 April 2012 How much it is valid to create a multiple of accounts of single client? in otherwords can we create two sundry debtors register for one client?
how much it is valid?

CA Kishore Tallam

CA Kishore Tallam (Expert)
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12 April 2012 Yes. U can created two debtors accounts for same party.
In recent trends, the companies are doing various kind of businesses under one company and also MIS requirements have been increased.
In order to address all those, if a person is doing business in more than one line of business, then they are creating two debtor accounts and accordingly reporting in their MIS. It gives a proper picture of performance of segments.