0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
When do you get payment if the payment term is net 60?
Net in 60 strictly means that the balance is due 60 days from the invoice date. If the invoice date is January 15th, then the balance (net) is due on (or before) March 15th. 60 days after the invoice date. Other terms used are 2n20 net 60 which merely means the payer of the invoice can take a 2 percent discount if the amount due is paid off on or before the tenth day after the invoice date.
What steps would you take before approving an invoice for payment?
Confirm that the merchandise or service was properly ordered (eg. a Purchase Order, or order placed by an authorized person), confirm that the merchandise was received on time and in good condition, confirm the vendor is approved.
What steps would you take before approving invoice for payment?
Confirm that the merchandise or service was properly ordered (eg. a Purchase Order, or order placed by an authorized person), confirm that the merchandise was received on time and in good condition, confirm the vendor is approved.
What is the difference between invoice and proforma invoice?
An invoice is basically a receipt you get at the time you take possession of an item you purchased. A pro forma invoice is one that is sent to a buyer before they will actually receive their purchase.
Can original invoice be altered?
Never alter an original invoice, especially if the invoice has been sent to the consumer. If the invoice has not yet been sent, then it is better to destroy (void with notes as to why it's been voided) the invoice and make a new one with the changes, altering the invoice is unacceptable. If the invoice has been sent to the consumer an invoice adjustment must be sent to the customer, noting all the changes that were needed. Paying close attention when filling out an invoice is very important. If the error(s) things such as an overcharge of the balance, then correction is easily made, in some (although extremely rare) if the error(s) is an undercharge to the consumer the company may have to take the loss and take steps to insure that this error never happens again.
When do you get payment if the payment term is net 60?
Net in 60 strictly means that the balance is due 60 days from the invoice date. If the invoice date is January 15th, then the balance (net) is due on (or before) March 15th. 60 days after the invoice date. Other terms used are 2n20 net 60 which merely means the payer of the invoice can take a 2 percent discount if the amount due is paid off on or before the tenth day after the invoice date.
What steps would you take before approving an invoice for payment?
Confirm that the merchandise or service was properly ordered (eg. a Purchase Order, or order placed by an authorized person), confirm that the merchandise was received on time and in good condition, confirm the vendor is approved.
What steps would you take before approving invoice for payment?
Confirm that the merchandise or service was properly ordered (eg. a Purchase Order, or order placed by an authorized person), confirm that the merchandise was received on time and in good condition, confirm the vendor is approved.
What is the different between invoice and proforma invoice?
An invoice is basically a receipt you get at the time you take possession of an item you purchased. A pro forma invoice is one that is sent to a buyer before they will actually receive their purchase.
What is the difference between invoice and proforma invoice?
An invoice is basically a receipt you get at the time you take possession of an item you purchased. A pro forma invoice is one that is sent to a buyer before they will actually receive their purchase.
Can original invoice be altered?
Never alter an original invoice, especially if the invoice has been sent to the consumer. If the invoice has not yet been sent, then it is better to destroy (void with notes as to why it's been voided) the invoice and make a new one with the changes, altering the invoice is unacceptable. If the invoice has been sent to the consumer an invoice adjustment must be sent to the customer, noting all the changes that were needed. Paying close attention when filling out an invoice is very important. If the error(s) things such as an overcharge of the balance, then correction is easily made, in some (although extremely rare) if the error(s) is an undercharge to the consumer the company may have to take the loss and take steps to insure that this error never happens again.
What does net 60 mean for payment?
Payment terms on an invoice are written in the form "x/y net z", where x is the percentage discount taken if the invoice is paid in y days, or else the entire balance is due in z days. For example, if the terms are 2/10 net 30, the customer may take a 2% discount if he/she pays the invoice within 10 days, or else has to pay the whole amount due in 30 days. When no discount is offered, the payment terms can be written simply only as "net z". Thus, net 60 means that the invoice must be paid in 60 days. There are no discounts offered for paying early.
What steps do you take if your baby's daddy isn't paying you his court odered payment?
You contact the court that ordered the payment and tell them. Contact whatever office is listed on the paperwork.
Which steps should I take before re-glazing my bathtub?
My bathtub needs to be re-glazed. What are the steps one needs to take before bathtub re-glazing?
What steps does the villager take before it declares war on another village?
See "What steps does the village take before it declares war on another village in Things Fall Apart?"
How many steps do you take before they call traveling?
two
What is the payment term 1 percent tenth net 30?
1 percent 10th means that if you pay the balance by the 10th of the month then you can take a 1% discount on the balance due, net 30 means that if you choose to not pay the balance on or before the 10th the full balance is due 30 days after date on invoice.
