Total creditors account
Suresh Pai S (Tax Consultant) (1029 Points)
07 February 2017
Overpayment refunded by suppliers.Where will you post this adjustment in total creditors a/c?
1 Replies
V P Narasimhan
(Accounts Manager)
(791 Points)
Replied 14 March 2017
If you make overpayment to Creditor his account will show debit balance normally there should not be any debit balance in Creditors' account) So,
Bank account Dr (on refund of excess payment made)
Creditors a/cCR
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