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What are the difference between Deposit and Guarantee in AR
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Answer / ch roopa
Deposit are the pre-payment made by a customer that should
be adjusted against futre debit transaction that are raised
with respect to this pre-payment. so deposit represent the
advance payment made by the customer.
Guarantee is a documentation of the promise made by the
customer to obtain the goods from the organisation. This
promise is documented as a gurantee. The customer doesnot
make payment for the guarantee
| Is This Answer Correct ? | 23 Yes | 0 No |
Answer / d chitti babu
Deposit : It is the pre-payments made by a customer that
should be adjusted against the future debit transactions
that are raised with respect to this pre-payments.
Gurantee : It is a documentation of the promise made by the
customer to obtain the goods from the organisation. This
promise is documented as a gurantee. The customer does not
make payment for the guarantee
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / mahi
Deposit and Guarantee Transactions both are Commitment
Transactions.
Where Deposit Transaction includes Cash Involvement, But
Guarantee Transaction Does not Involve Cash and Guarantee is
just an Oral Agreement
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / swathi
Both are committment
Deposit: When u raise an deposit u pay it. Again when
invoice is raised u tie the invoice to the deposit.
Guarantee: It is promise to buy a specified quantity. u
dont pay the Guarantee. U only tie the invoices to a
Guarantee.
For both the revenue account is unearned.
Regards
swathi
| Is This Answer Correct ? | 4 Yes | 4 No |
Answer / madhav
DEPOSIT AND GUARANTEE BOTH ARE COMMITMENTS.
DEPOSIT: IN DEPOSIT CUSTOMER WILL DEPOSIT SOME AMOUNT AS AN ADVANCE TO THE SUPPLIER.
GUARANTEE:IN GUARANTEE CUSTOMER MAKES COMMITMENT BUT HE WILL NOT DEPOSIT ANY AMOUNT WITH THE SUPPLIER .
| Is This Answer Correct ? | 0 Yes | 1 No |
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