07. Define Sundry Creditor
1. Trade payable will be a subgroup under
a. EQUITY AND LIABILITIES -> CURRENT LIABILITIES -> TRADE PAYABLE
b. Each and every type of Sundry creditor will be Control account
c. Ledger Type will be Supplier
d. Each and every ledger / party / creditor will open under required Sundry Creditor account
e. Code of each and every sundry Creditor Control account can be defined like
i. SC01
ii. SC02
f. Ledger/Party/Creditor open under the control account will be
i. SC01001
ii. SC01002
g. Sub Ledger Classification can also be done via Category and Sub state
2. Please see the below sample table
CODE |
Description |
Ledger Type |
Ledger Nature |
Main Group |
Sub group 1 |
Sub Group 2 |
SC-007 |
Sundry Creditors-Broker |
Control Account |
Supplier |
EQUITY AND LIABILITIES |
CURRENT LIABILITIES |
TRADE PAYABLE |
SC-009 |
Sundry Creditors- For Goods |
Control Account |
Supplier |
EQUITY AND LIABILITIES |
CURRENT LIABILITIES |
TRADE PAYABLE |
SC-010 |
Sundry Creditors-Professional Fees |
Control Account |
Supplier |
EQUITY AND LIABILITIES |
CURRENT LIABILITIES |
TRADE PAYABLE |
SC-012 |
Sundry Creditors-Contractors |
Control Account |
Supplier |
EQUITY AND LIABILITIES |
CURRENT LIABILITIES |
TRADE PAYABLE |
3. Sundry Creditor Contractor and Sundry Creditors-Consultant
a. This will flow from construction module
b. Work Order will be generated
c. This ledger will be associated with
i. Normal Advance [will be the debit balance of this Sundry Creditor account]
ii. Secured Advance
iii. Mobilization Advance
iv. Retention
v. TDS
4. Sundry Creditors-Broker
a. This will flow from CRM
b. Booking will be generated and broker will be mapped with Booking
c. Normal Advance [will be the debit balance of this Sundry Creditor account]
d. TDS
5. Sundry Creditors-For Goods
a. This will flow from Material module
b. Purchase order will be generated
c. Normal Advance [will be the debit balance of this Sundry Creditor account]
d. TCS
6. Sundry Creditors-Advertisement
a. This will flow from Media Center module
b. Release order will be generated
c. Normal Advance [will be the debit balance of this Sundry Creditor account]
d. TDS
7. Other ledger can be Created like below if SOP is not attached with any specific flow
a. Sundry Creditors-Land
b. Sundry Creditors-For Land Owner
c. Sundry Creditors-Land Broker
d. Sundry Creditors-Legal
e. Sundry Creditors-Projects/Others SAT
f. Sundry Creditors-Customers (AR)
g. Sundry Creditors-Professional Fees
h. Sundry Creditors-Expenses
i. Sundry Creditors-Transit Accommodation
j. Hold Account
i. These can follow the below process flow as per client’s SOP
1. Service PO – NSP Invoice – Payment
2. Service Order – NSP Invoice – Payment
3. NSP Invoice -Payment
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