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

Inter company transaction in account receivable, How to define Inter compan...

How to define Inter company Transaction in Account Receivable? Ans) Intercompany transactions are those transactions that takes place among two or more entities of the similar g

Deferred payments, Ask question Discuss the export financing under the defe...

Ask question Discuss the export financing under the deferred payment system.#Minimum 100 words accepted#

Explain sales return, Q. Explain sales return? A sales return is mercha...

Q. Explain sales return? A sales return is merchandise return by a buyer. Buyers and Sellers regard a sales return as a cancellation of a sale. Otherwise some customers keep un

What are your co-workers like, They are likely to tests for tact, diplomacy...

They are likely to tests for tact, diplomacy, and with descriptive skills.

Adjusting entries, Hugo Company has a five-day workweek and pays salaries o...

Hugo Company has a five-day workweek and pays salaries of $35,000 each Friday. 1. Prepare the adjusting entry required on May 31, assuming that June 1 falls on a Wednesday. 2. Prep

Amount of stockholders'' equity, At the starting of the year, Hernandez Com...

At the starting of the year, Hernandez Company had total assets of $872,310 and total liabilities of $497,500. (a) If total assets enhanced $147,320 during the year and total li

Trading and profit and loss account, state why carriage inwards is stated o...

state why carriage inwards is stated on the trading account

Determining the discount rate, Determining the Discount Rate XYZ (APP)...

Determining the Discount Rate XYZ (APP) Ltd is a biotechnology company that recently listed on the Australian Securities Exchange (ASX). As such, XYZ Ltd has very limited stoc

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd