Sundry Creditors
Sundry Creditors are the trade payables who comes under the current liability. Here, the company owes money to the creditor on account of goods and services received.
Here is the line of difference between Sundry Debtors and Sundry Creditors.
| BASIS FOR COMPARISON | DEBTORS | CREDITORS |
|---|---|---|
| Meaning | Debtors are the parties who owes debt towards the company. | Creditors are the parties to whom the company owes a debt. |
| What is it? | It is an account receivable. | It is an account payable. |
| Status | Assets | Liabilities |
| Discount | Allowed to debtors. | Received from creditors. |
| Derived from | Term ‘debere’ of Latin language which means ‘to owe’. | Term ‘creditum’ of Latin language which means ‘to loan’. |
| Provision for doubtful debts | Created on debtors | Not created on creditors. |
To see the outstanding document of Sundry Creditors, follow these steps.
Go to Pending documents → Under outstanding → Receivables → Press Alt+X → View Exceptions → Select Sundry debtors with a credit balance