ADVANCE PAYMENT OF SUNDRY CREDITOR

This query is : Resolved

shivshanker (Querist)
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20 April 2011 IF ANY PAYMENT MADE ADVANCE AGAINST PURCHASE BUT PURCHASE THINGS WE DIN'T RECD YET.

SO KINDLY TELLS US WHAT IS THE ENTRY THAT IS MY S. CREDITORS OR SUNDRY DEBTORS
HOW THE ENTRY WILL PASS IN ACCOUNTS BOOKS..

PLS SUGGEST ME
THANKS..............
SHIV

but what is provision in balance sheet

or ledger under s. creditor or any thing else..

thanks for reply.....

Mandar

Mandar (Expert)
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20 April 2011 It will be creditors only. It is an adavcne against PO. If the PO is for acquisition of Fixed assets then it is your capital commitment.

Entry will be

S creditors A/C Dr

To Bank account.

shivshanker

shivshanker (Querist)
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21 April 2011 thank you sir

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