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Sundry debtors refer to businesses, individuals or companies receiving services or products from another company or business without making a payment immediately. The payment occurs on a credit basis, where the debtors are liable to pay the money in future.
The term ‘Debtor’ refers to a person or entity that owes money to your business for goods or services sold on credit. A group of such individuals or entities is called Sundry Debtors. They may also be referred to as accounts receivable or trade receivables. Sundry means “various” or “several”.
A sundry debtor is an additional term for account receivables. It refers to businesses or individuals who owe money for goods or services you have provided on credit. Financial statements such as the balance sheet reveal several accounts (payable to suppliers and receivable from customers, representing credit sales that await payments).
Aug 24, 2023 · Sundry Debtors, also known as Accounts Receivable, are the individuals or entities that owe money to your business in exchange for goods or services provided on credit.
Jun 10, 2024 · In accounting, sundry debtors refer to customers or entities who owe money to a business for goods or services they have purchased on credit. Also known as accounts receivable or trade debtors, sundry debtors play a crucial role in the financial management of a business.
Mar 22, 2024 · Meaning: Sundry debtors represent a current asset on a company’s balance sheet. This means that they are expected to be collected within one year. The amount owed by sundry debtors is also known as accounts receivable. Examples: A customer who purchases goods on credit from a store and is given 30 days to pay.
Definition of Sundry Debtors. Sundry debtors could be referring to a company’s customers who rarely make purchases on credit and the amounts are not significant. Example of Sundry Debtors. I suspect that the term sundry was more common when bookkeeping was done manually.
