Excess payment to supplier, Accounting Basics

Assignment Help:

What process for excess payment to supplier I would like know without adjusting invoice that means how supplier will send back surplus amount how do in oracle apps?

Ans) Surplus payment to supplier is treated as Advance paid to supplier. This will illustrate as debit balance in supplier account.

Supplier can give the payment by way of cheque / demand draft without adjusting in his subsequent bills.

Related Discussions:- Excess payment to supplier

Which accounting concept this?, All relevant information and explanations a...

All relevant information and explanations about a business have been included in its financial reports

Non performing asset?, An asset or account of borrower, which has been clas...

An asset or account of borrower, which has been classified by a bank or financial institution as sub-standard, doubtful or loss assets as per the guidelines issued by RBI. An

As part of their divorce agreement, As part of their divorce agreement , Ha...

As part of their divorce agreement , Harry transfers to Mary, his former spouse, GM stock with a market value of 30000, Harry had $20000 invested in the stock. How does this transf

Can a buyer still avail the 2% discount if he/she partially, can a buyer st...

can a buyer still avail the 2% discount if he/she partially paid the accounts receivable at the 5th day and the full payment is on the 10th day of the given discount period in th

Shareholders and investors, Shareholders and Investors: as shareholders an...

Shareholders and Investors: as shareholders and the other investors have invested their wealth in a business activity, they are interested in understanding periodically regarding

Nature of accounting function, An accounting is a service function. The mai...

An accounting is a service function. The main accounting executive through whatever name he is termed as holds a staff position except inside his own department where he exerts aut

Is the interest on a note receivables recorded, Is the interest on a note r...

Is the interest on a note receivables recorded if paid prior to the due date? A. Debit to interest expense B. debit to interest payable C. Credit to interest receivable D. Credit

Samuel, what is the implication of applying accounting concept wrongly

what is the implication of applying accounting concept wrongly

Create job cost summary sheet , Question: Artarmon Ltd uses a job-order...

Question: Artarmon Ltd uses a job-order costing system and a predetermined overhead rate based on direct labour cost. Estimated manufacturing overheads for the coming year were

What is public accounting, Question 1: (a) Public accounting is said to...

Question 1: (a) Public accounting is said to "mirror" the budget. Explain. (b) How public sector accounting systems help in the administration of public finance? Questio

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages