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Creditors are individuals or companies to whom you owe money for goods or services purchased on credit. A group of such individuals or entities is called Sundry Creditors. They may also be referred to as accounts payable or trade payables. Sundry means “various” or “several”.
Jul 21, 2022 · Sundry creditor is a person who is responsible for the supplies of the goods or services to another business firm on credit basis. Let’s understand the meaning & example of sundry creditors.
A sundry creditor is a person or business giving goods to another company in credit. Click here to get a detailed analysis of sundry creditors and their examples.
Oct 22, 2021 · Curious about sundry creditors? In this article, know about sundry debtors and sundry creditors meaning, sundry creditors in balance sheet and their use in Tally.
A person who gives goods or services to the business in credit or does not receive the payment immediately from the business and is liable to receive the payment from the business in future is called a Sundry Creditor.
Jun 12, 2023 · Sundry creditors is a term used to describe individuals or businesses that provide goods or services on a credit basis. A business that makes use of this facility and takes goods or services from another business on credit, will refer to the provider of these goods or services as sundry creditors.
Sundry creditors refer to the individuals or entities to whom a business owes money for goods or services received on credit. These creditors are a crucial aspect of a company's financial dealings, representing the outstanding payments that the business needs to settle in the near future.
Such businesses who provide the goods on a credit basis are called ‘Sundry Creditors’ to the receiving company. Since the buyer of the products needs to pay money to the seller, sundry creditors are considered a liability to the company, and they will be listed on the right-hand side of the credit side of the balance sheet.
Aug 24, 2023 · Sundry Creditors represent entities or individuals to whom your business owes money for goods or services received on credit. Effectively managing these relationships can lead to improved cash flow and better business partnerships. Sundry Creditors Meaning.
Jan 13, 2023 · Who Are Sundry Creditors? People who provide goods or services on credit are known as sundry creditors. They are also the companies or customers that a firm owes money to as a result of the credit facilities obtained in the products or services used to develop the business.
