Debtors and Advance against sales
This query is : Resolved
Guest
Guest
(Querist)
17 June 2010
Dear Sir,
I have 2 ledgers which are created for one party. There are sales also made to the party as well as advances recieved against sales.
My client argues that he wants to show both these seperately in the Balance sheet and there is no provision for netting off the same.
Can you please help
I have 2 ledgers which are created for one party. There are sales also made to the party as well as advances recieved against sales.
My client argues that he wants to show both these seperately in the Balance sheet and there is no provision for netting off the same.
Can you please help
17 June 2010
Hi Anitha,
The situation which you have quoted has a very simple solution.
Ask the client to have a track of the orders against which advances have been received from the customer. Then when the Sales invoice is raised against that order the netting off can be done.
The situation which you have quoted has a very simple solution.
Ask the client to have a track of the orders against which advances have been received from the customer. Then when the Sales invoice is raised against that order the netting off can be done.
Guest
Guest
(Querist)
17 June 2010
Hi Abhishek,
Thanks for the reply.
How do i present the same in the Balance Sheet?
Thanks for the reply.
How do i present the same in the Balance Sheet?
17 June 2010
This situation is arise when you have recevied agaisnt separate sale order which is to be executed after Balance Sheet date. This is reason that your client want to shown it separte.
There is no problem to shown it separate in Balance sheet if it as per above situation.
There is no problem to shown it separate in Balance sheet if it as per above situation.
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