Suspense accounts are generally used to park funds whose status is not verified completely during a transaction.
For example, if during a Fund Transfer, if the credit account holder's details are not verified the funds are credited temporally to a suspense account
Sundry Accounts are used for miscellaneous purposes - Eg - To park admin related costs, additional charges not finalized etc
sundry debtor is whom they baught goods on credit basis
Sundry Debtors are from whom we have to take money and to sundry creditors we owe money.
Sundry Debtors are from whom we have to take money and to sundry creditors we owe money.
The difference between trade debtors and sundry debtors is trade debtors are specific debts like credit cards. Sundry debtors are a wide variety of debtors that can be from any source.
Accounts payable are usually the suppliers to a company who are providing credit terms on purchases. Sundry creditors are any other creditors which dont fall into the usual categories on the balance sheet.
sundry creditors is a personal account. the rule applying would be debit the reciever, credit the giver
why debtors and creditors are called as sundry? Debtors = In general business terminology means Customers to whom the goods are sold on credit. Sundry = Various Therefore Sundry Debtors means Debtors for various reasons and not merely for Credit Sales.
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 relationships. With today's computerized accounting, such an account is seldom used, since it is very quick and easy to add a new vendor or make inactive an unused one.
Sundry deposits are assorted deposits that you may have. They may include having a checking and a savings account.
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.