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Double entry

This topic has 5 replies, 3 voices, and was last updated 11 years ago by tariqkath.

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February 27, 2013 at 7:28 am #118803
tariqkath
Participant
- Topics: 34
- Replies: 50
Dear all,
What would be the double entry to record ADVANCE PAYEMNTS recieved from customers ??
Looking forward from you soon.
Rgds,
TRK*
February 27, 2013 at 7:49 am #118804
icedawn
Member
- Topics: 32
- Replies: 176
well the customer will be counted as a creditor i guess- So cr deposit a/c ( customer’s name) dr cash or something….
Then reverse the entry on due date
February 27, 2013 at 7:57 am #118805
tariqkath
Participant
- Topics: 34
- Replies: 50
What about this one ?
Dr. Bank or Cash
Cr. Customer advances
February 27, 2013 at 10:12 am #118810
alexioT
Member
- Topics: 0
- Replies: 1
Dr Cash
Cr Customer
February 27, 2013 at 10:21 am #118811
tariqkath
Participant
- Topics: 34
- Replies: 50
Thanks Alex 🙂
February 27, 2013 at 10:21 am #118812
tariqkath
Participant
- Topics: 34
- Replies: 50
Thanks to u too icedawn 🙂
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