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Accounting Treatment for Friends
07-11-2015, 05:19 PM
Post: #1
Accounting Treatment for Friends
Assalamu alaykum,

What account should be created for transactions with friends where sometimes you owe money to them and sometimes they owe money to you.

You can't just create a "accounts payable" or accounts receivable" head because of the above mentioned change.

Please help
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12-22-2015, 04:47 PM
Post: #2
RE: Accounting Treatment for Friends
Assalamu alaykum Nosherwan,

I am James Renault and lives in Canada. For your accounting queries, I can recommend you to contact Mark Raymer my one of friend in accountancy. You can connect with him at https://www.facebook.com/people/Mark-C-R...6092161593 .
I hope, my answer would assist you in some way.

Regards,
JamesRenault
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