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What is Deposit sales?
The deposit sales is the business type of payment , the customer will have to advance the payment before buying. The diffirent between the advance payment sales and deposit sales is about , the Advance Payment - the customer will have to order first then pay regarding to the order Deposit Sales - the customer will pay first before ordering.
Accounting treatment for customer advanced deposit?
Its a liability, an amount your company owe to that customer.
Is a customer deposit a current liability?
Yes, customer deposits is that amount which is received in advance for the services in future.
Advances from customers appear in the accouting?
If you are the seller and recieve an advance payment from a customer, it means you are owing the customer and as much a creditor. Your cash is debited and the customer ( Customer's deposit account) credited;
What do banks do with the deposits they receive from their customers?
They use that money to grant loans to other customers. Any deposit money received by the bank is used to grant loans to customers. The banks charge an interest from the loan customer and pay an interest to the deposit customer. Usually the interest charged to the loan customer is higher than that paid to a deposit customer.
When is a deposit slip issued to a customer?
A deposit slip is issued to a customer when they make a deposit at a bank or financial institution. It serves as a record of the transaction, detailing the amount being deposited and the account to which it is credited. The slip typically includes spaces for the customer's information and can be used as a receipt for the deposit. Customers receive the deposit slip immediately upon completing the transaction.
What is a CD in terms of banking?
A Certificate of Deposit is a special type of deposit account that can be opened by any customer. The customer will deposit a large sum of money with the bank for a predetermined period of time (Usually in months or years). The bank will offer a good interest rate to the customer for parking his/her money long-term with them. The customer wouldn't break his deposit mid term and keep it until maturity because if he does so, he will be charged a penalty for doing so.
What does the Federal Deposit Insurance Corporation do?
It acts as an insurer of bank customer deposits. A+
What is deposit invoice?
An invoice is essentially a receipt given to a customer following a purchase of some sort. With respect to vacation cruises, an invoice will be given to a customer when they pay a deposit for their cabin or fare.
Can you get satellite tv with no deposit?
Both DirecTV and Dish Network provide package options without requiring the customer to pay a deposit. A deposit is neverrequired from either provider, if the customer has no credit or a low credit score, then the customer is required to purchase their equipment in order to receive service. This is not a deposit, it is an equipment purchase option. this is a LIE i have called both and they both want me to buy the equuiment and pay a 400 dollar deposit
Definition of customer relationship with bank?
Banker customer relationship,is just a special contract where a person entrusts valuable items with another person with an intention that such items shall be retrieved on demand from the keeper by the person who so entrust. Thus the banker is the one who is entrustd with the above mentioned valuable items,whie the person who entrust the items with a view to retrieving it on demand is called the customer. The relationship is thus based on contract.It is based on certain terms and conditons.For instance,the customer has the right to collect his deposit on demand personally or by proxy.The banker too is under obligation to pay, so long the proxy is duly auhorised by the customer It has a semblance of creditor /debtor relationship.Thus the customer is the creditor who has the right of demand on the money from the banker.As long as the banker is keeping the customer items,the banker is indebted to the customer. The elationship is also fiducial.The terms and conditons governing the relationship should not be leaked to a third party,particularly by the banker.Also the items kept should not be released to a third party without due authorisation by the customer. Banker customer relationship,is just a special contract where a person entrusts valuable items with another person with an intention that such items shall be retrieved on demand from the keeper by the person who so entrust. Thus the banker is the one who is entrustd with the above mentioned valuable items,whie the person who entrust the items with a view to retrieving it on demand is called the customer. The relationship is thus based on contract.It is based on certain terms and conditons.For instance,the customer has the right to collect his deposit on demand personally or by proxy.The banker too is under obligation to pay, so long the proxy is duly auhorised by the customer It has a semblance of creditor /debtor relationship.Thus the customer is the creditor who has the right of demand on the money from the banker.As long as the banker is keeping the customer items,the banker is indebted to the customer. The relationship is also fiducial.The terms and conditons governing the relationship should not be leaked to a third party,particularly by the banker.Also the items kept should not be released to a third party without due authorisation by the customer.
What are the duties of customer to their banker?
The duties of a customer to their banker is not only respect but also the confidence to deposit their money. The bank needs customers to deposit money so that they can loan more money out and in turn earn more money.
