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Debtor with credit balance

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(Querist)
13 July 2024 Is it okay to change the classification of a debtor to a creditor if the closing balance of the debtor is a credit balance?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
13 July 2024 No, if the party had been debtor for whole year. Only the last balance will be in credit.

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