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sundry creditors


Definitions from the Web

Sundry Creditors


Sundry creditors refer to a diverse group of individuals or businesses to whom a company owes money for various goods or services received. These creditors are not specific or significant enough to be categorized individually but are collectively recognized as sundry creditors.


Sense 1: Accounting

In accounting, sundry creditors are recorded as a liability on a company's balance sheet. They represent the amount owed to different creditors for miscellaneous expenses or unpaid bills.

Example: The company's balance sheet revealed a total amount of $10,000 under sundry creditors.

Sense 2: Business

In a business context, sundry creditors can refer to the vendors, suppliers, or service providers who supply goods or services to a company on an irregular or infrequent basis.

Example: The business had to reach out to its sundry creditors to negotiate payment terms for the outstanding invoices.


Usage 1: Popular

Sundry creditors are a common aspect of a company's financial obligations and are important to maintain good relationships with suppliers and vendors.

Example: The company's financial team regularly updates and reconciles the accounts payable to manage the sundry creditors efficiently.

Usage 2: Local

In the local business community, maintaining good standing with sundry creditors can be crucial for small businesses as they heavily rely on flexible credit terms and support from various suppliers.

Example: The local bakery's sundry creditors played a significant role in providing fresh ingredients and packaging materials.

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