Poonawalla fincorps
Poonawalla fincorps

Advance

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 September 2014 Dear Sir,
Advance received from a customer will go in liability side
or
it will go in Assets side?

Please clarify.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
23 September 2014 Whenevr u have such ques...think it like this...what will you do when you give an advance? Will it be your asset or liability? Do the reverse when you receive an advance

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