creditor account

And so the debtor and creditor account goes on.

If junior creditors account for more than a third of the creditors, they can force concessions from their senior partners.

Official creditors accounted for 48 per cent of total long-term debt (up from 38 per cent in 1982).

Because of Bangladesh's status as a least developed country receiving concessional loans, private creditors accounted for only about 6 percent of outstanding public debt.

Either keeping personal creditors accounts or making sundry creditors adjustments can consume inordinate amounts of administrative and accounting time.

- Accounts payable: The major task of creditor accounting is handling payments, i.e. the payment for the open items resulting from the supplier's invoice.

Dates shown are Payment dates; in this instance the date when the expense posting to the Trade Creditor account is cleared down by payment.

They did this by negotiating settlements on 188,000 individual creditor accounts for its clients becoming the first debt resolution company in the country to reach $1 billion in cumulative debt it has resolved for clients.

It is Mr. Chadband's habit--it is the head and front of his pretensions indeed--to keep this sort of debtor and creditor account in the smallest items and to post it publicly on the most trivial occasions.

The rationale for not keeping creditors accounts is not only rather shortsighted (because you might lose the goodwill of your suppliers) but it does not apply to debtors accounts - it is for certain that you will want to know precisely who owes you money and how much they owe you.

The advantage of this income and converted payments method over the full accruals method is that personal creditors accounts do not have to be maintained (why keep a record of the individuals to whom you owe money - they will tell you soon enough if you do not settle) and the bookkeeping effort is reduced.

For example, if a purchase invoice for £21 is entered as £12, this will result in an incorrect debit entry (to purchases), and an incorrect credit entry (to the relevant creditor account), both for £9 less, so the total of both columns will be £9 less, and will thus balance.