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What is Debtors & Creditors | Difference Between Debtor and Creditor in Hindi | #29

In the context of accounting and finance, a debtor is a person or organization that owes money to another person or organization. A creditor is a person or organization that is owed money by another person or organization. The difference between a debtor and a creditor can be understood by the direction of the financial flow. A debtor owes money to the creditor, and therefore the financial flow is from the creditor to the debtor. A creditor is owed money by the debtor, and therefore the financial flow is from the debtor to the creditor. Debtors and creditors are important concepts in accounting and finance because they help to track the flow of money between different parties. For example, a company's accounts receivable (the amount of money that is owed to the company by its customers) are recorded as debtors, while its accounts payable (the amount of money that the company owes to its suppliers) are recorded as creditors. In a business, it is important to manage debtors and creditors effectively to ensure that the company's financial position is healthy. This may involve setting up payment terms with debtors and creditors, monitoring the company's accounts receivable and accounts payable, and taking action to collect outstanding debts or pay overdue bills. My YouTube Gear: Boya BYM1(Mic): https://amzn.to/3bvm69j Redmi Note 7 Pro(Mic & Camera): https://amzn.to/3uRkVsb MSI Motherboard: https://amzn.to/3fiQHYO Intel i3 Processor: https://amzn.to/3w8TWbQ Mouse: https://amzn.to/3yb8PMP Keyboard: https://amzn.to/3bvmtkd Wifi Adaptor: https://amzn.to/3fiQYuO SSD: https://amzn.to/3w2w2Pa Speakers: https://amzn.to/3w6pKhv -------------------------- What is Warehouse & Warehousing | Types of Warehousing in Hindi | #25    • What is Warehouse & Warehousing | Typ...   What is Retailers? | Types of Retailers | Function of Retailers in Hindi | #26    • What is Retailers? | Types of Retaile...   Types of Bank in India | Commercial Bank, Public sector Bank, co-operative Bank, RRB in Hindi | #27    • Types of Bank in India | Commercial B...   What is Risk Management ? in Hindi | #28    • What is Risk Management ? in Hindi | #28   What is Debtors & Creditors | Difference Between Debtor and Creditor in Hindi | #29    • What is Debtors & Creditors | Differe...   Classification of Accounts | Types of Accounts | Nominal Account, Personal account and Real Account    • Classification of Accounts | Types of...   Rules of Debit and Credit | Golden Rules Of Accounting in Hindi | #31    • Rules of Debit and Credit | Golden Ru...   Difference between Consignment & Sales in Hindi | #32    • Difference between Consignment & Sale...   Diffrence Between Capital Reserve and Revenue Reserve | Capital Reserve | Revenue Reserve | #33    • Diffrence Between Capital Reserve and...   Difference between Consignment and Joint Venture | Letstute Accountancy in Hindi | #34    • Difference between Consignment and Jo...   Sinking Fund for Redemption of Liability vs Sinking Fund for Replacement of an Asset in Hindi | #35    • Sinking Fund for Redemption of Liabil...   Difference between Reserve and Provision in Hindi | #37    • Difference between Reserve and Provis...   Difference Between Fixed Instalment Method vs Diminishing Balance Method in Hindi | #36    • Difference Between Fixed Instalment M...   Difference between Promissory Note and Bill of Exchange in Hindi | #38    • Difference between Promissory Note an...   Difference between Joint Venture and Partnership in Hindi | #39    • Difference between Joint Venture and ...   -------------------------- #ahirlog #business Instagram:   / ahirlog   Facebook:   / ahirlog   Twitter:   / ahirlog   YouTube:    / ahirlog