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

Equation, What is the accounting equation?

What is the accounting equation?

Income statement single step, Solve accounting income statement question in...

Solve accounting income statement question in single step with given details.. The following are information for the Lotu Wo Company:                 Net Sales             5

Scheduled for production, Lego Toys is planning to produce new toys at its ...

Lego Toys is planning to produce new toys at its factories.  The setup cost of the production facilities, production costs and profits for each toy are given below: Toy    Setup c

Accounting concepts and conventions, what is the implication of applying ac...

what is the implication of applying accounting concepts wrongly

Financial documents, when discrepancies occured on financial documents,what...

when discrepancies occured on financial documents,what consequences will arise?

T-accounts general ledger, trying to put the numbers into the correct asset...

trying to put the numbers into the correct asset t-account and not adding up

Assignment 3, Financial accounting reports are mandatory to be prepared by ...

Financial accounting reports are mandatory to be prepared by the firms, and are scrutinized by auditors, creditors or Government or Tax authorities. But management accounting recor

State the term - partnership, State the term - Partnership A partnershi...

State the term - Partnership A partnership exists where at least two individuals carry on a business together with intention of making a profit. Partnerships have much in commo

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