what is sundry creditors

Sundry creditors are individuals or entities to whom a company owes money for goods or services received on credit, representing the companys liabilities. They are people or organizations that offer their goods or services on a credit basis to their clients. When a business purchases goods or services on credit, the party from whom the business borrows is known as a sundry creditor. Sundry creditors are recorded in a companys accounts payable or sundry creditor account. They are considered as liabilities to a business as they are supposed to pay outstanding amounts for a specific transaction based on the agreed timeline by both parties. Sundry creditors are listed on the right side of the credit side of the firms balance sheet.