Sundry Debtors:
Obviously, sundry debtors are the most common terms used in the accounting realm. Sundry Debtors are an integral part of the current asset sector. In addition, it is the phenomenon where the customer has to owe money to the business.
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. |
Go to Gateway of Tally → Accounts info → Ledgers → Create
To see the outstanding document of Sundry Debtors follow these steps.
Go to Pending documents → Under outstanding → Receivables → Press Alt+X → View Exceptions → Select Sundry creditors with a debit balance