sundry debtor is whom they baught goods on credit basis
sundry creditors is a personal account. the rule applying would be debit the reciever, credit the giver
personal a/c
Sundry Credits represent items/transactions which cannot be classified immediately under any credit account.
If we provide some services to the vendors they are paying for our services therefore the person who are paying us becomes our sundry debtor. Sundry Debtor is simply called as account recievable i.e for retailer is customer, for wholesaler is retailer.
Sundry deposits are assorted deposits that you may have. They may include having a checking and a savings account.
sundry debtor is whom they baught goods on credit basis
sundry creditors is a personal account. the rule applying would be debit the reciever, credit the giver
personal a/c
A sundry account is a corporate account typically used for recording miscellaneous items for which an appropriate account has not yet been established. Sundry accounts are usually temporary or in-process accounts, meaning they must be cleared to a zero balance (total debits must equal total credits) at the end of each accounting period.
Sundry Credits represent items/transactions which cannot be classified immediately under any credit account.
* Savings Account/Checking Account * Current Account * Fixed/Time Deposits * Recurring Deposits
If we provide some services to the vendors they are paying for our services therefore the person who are paying us becomes our sundry debtor. Sundry Debtor is simply called as account recievable i.e for retailer is customer, for wholesaler is retailer.
In India: Savings Account Current Account Fixed Deposits account Recurring Deposits account DEMAT Account etc.
Sundry Debtors
You may have a category of sundry, or miscellaneous, creditors on the books for occasional or small vendor relationships, rather than setting up a separate vendor account for these infrequent. If we provide some services to the vendors they are paying for our services therfore the person who are paying us becomes our sundry debtors.
A suspense account is used to temporarily hold uncertain or unidentified transactions until they can be properly classified and recorded in the appropriate accounts. On the other hand, a sundry account is a general ledger account used to record small, infrequent, or miscellaneous transactions that do not fit into specific categories. The key difference is that a suspense account is a temporary holding account for transactions that require further investigation or clarification, while a sundry account is a permanent account for miscellaneous transactions.