Creditors and PLCA difference?

Rebecca498Rebecca498 Feels At HomePosts: 33Registered
Hi I was wondering if anyone could help me. I was just looking at posting discounts from my work book.

Discounts Allowed it shows as a credit entry to the debtors and a debit entry to the discounts allowed.

Discounts Received it shows as a debit entry to the PLCA and a credit entry to the discounts received.

What I cant work out is how come one of them refers to Debtors as Debtors and not SLCA seeing as the other one refers to it as PLCA and not Creditors?

I'd love any clarity any one could give me on this!

At the moment, I've gotten myself so wrapped in knots over this I cant even remember why we have Creditors and Debtors AND PLCA and SLCA!

Thanks,

Rebecca.

Comments

  • BluewednesdayBluewednesday Font Of All Knowledge Posts: 1,624Registered
    I don't think there's any particular reason - the terms are interchangable really.

    Debtors is just shortened (in this case) for debtors control account.
Sign In or Register to comment.