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

Explain about purchase discounts, Q. Explain about Purchase discounts? ...

Q. Explain about Purchase discounts? Purchase discounts frequently companies purchase merchandise under credit terms that permit them to deduct a stated cash discount if they p

Case Study Labor standards, Case Study Labor standards Geet...

Case Study Labor standards Geeta & Company has experienced increased production costs. The primary area of concern identified by management is direct labor. The compa

Income statement, identify the income statement account

identify the income statement account

Balancing of account, please i need to know how to solve question in balanc...

please i need to know how to solve question in balance sheet

Contract Account, contractee account is it an assets account or expenses Ac...

contractee account is it an assets account or expenses Account

Accrual method, Answer the following questions in 200 to 300 words: ...

Answer the following questions in 200 to 300 words: · Nonprofit organizations are required to produce financial statements based on the accrual method of accounting

At the end of the current year, At the end of the current year, $19,900 of ...

At the end of the current year, $19,900 of fees have been earned but not billed to clients. a. What is the adjustment to record the accrued fees? Indicate each account affect

Chnages, What is the latest change taking place in the accounting world tha...

What is the latest change taking place in the accounting world that will make a big difference to the way accountants prepare accounts?

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