Accounting Treatment for Friends

[Nosherwan Huma]

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

[JamesRenault]

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