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Item ID 1152403 in Category: Business Opportunities - Home Business

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Credit transactions and suppliers accounts


Credit transactions and suppliers accounts
All these time I have been talking about cash transactions that mean payments made to the supplier as and when a product acquired. Nevertheless, the modern day business operates its business mostly on credit terms. When a purchase made on credit, the company get credit agreement for payment may be a week, two weeks or a month even. Therefore, correct record has to maintain to avoid duplicate payments or also miss payments that may affect your credit history. A creditor known as the person who has supplied your product or service on credit, so money owed to the creditor.
When a purchase made on credit the amount posted into an account called accounts payable, which is a short-term debt. That a company needs to pay another enterprise for the product or services acquired during the period of its operations. Here the ledger system starts to change as you may have many suppliers in that case you need to have individual ledger accounts because you need to show them the amount payable to them to avoid any disputes. When you receive an invoice from a supplier, you have to make the necessary entries. Then when you make the payment to that supplier, appropriate entries have to make to close that supplier’s account.
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Target State: All States
Target City : London
Last Update : 21 May 2019
Number of Views: 5
Item  Owner  : Vathani Ariyam
Contact Email:
Contact Phone: 7415003212

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2019-05-24 (0.117 sec)