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Common classifications of a creditor include (1) Secured: who has a legal right to take a specific property of the borrower and sell it in case of a default. (2) Unsecured: who does not have any such right. ... creditors' equity; secured creditor; preferred creditor; sundry creditors...
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i have never heard of sundry creditors. maybe there is another term for sundry creditor which is a lot clearer than that. like for example accounts payable are also refered as trade payables. try to find another term for sundry creditors.
www.accountingcoach.com/accounting/discussion/143/sundr... www.accountingcoach.com/accounting/discussion/143/sundry-creditors-and-bills-payable/
Sundry creditors represent amounts owed to outside organizations resulting from deductions taken on the faculty/staff, biweekly, and awards payrolls and related University contributions.
www.finsvc.duke.edu/gap/glaccts/liab21xx.php
They are the credits in bookkeeping without an account.
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A company code is a seperate legal entity i.e. it is a unit which has to prepared it's own seperate P&L and Balance sheet. Creation of sundry creditors depends on you business process.
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We are collection attorneys. Since 1990, we have been collecting all kinds of debt from debtors located in Michigan. We collect commercial debts such as judgments, invoices, bad checks, open accounts, mortgages and secured debts. ... Creditor's Rights...
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All the creditors of all sizes. Same with debtors. It is just a way of lumping everything together on a short form..
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