Net is the final figure after you've taken expenses off.
For instance net wages is wages after tax and other deductions.
Net interest is after tax is taken off.
Net profit is gross profit after overheads have been deducted.
Net value of an item
Great value.
take away from
I understand that "Net 30" means "due in 30 days" (Net15 & Net60 mean due in 15 or 60 days, respectively, etc), but sometimes invoices simply say "NET" with no number. In my accounting classes (25 years or so ago) I was taught that "NET" means "NET 30", so I have always assumed this to be the case. Recently a vendor demanded payment for an invoice with "NET" terms that was less about 2 weeks old. He contended that "NET" means "due immediately" Who's right?
The term 2 15th prox net 30 terms is an accounting term indicating when payment is due. The payment for this would be that half is due on the 15th of the month and the balance due in 30 days.
Net value of an item
take away from
Great value.
I understand that "Net 30" means "due in 30 days" (Net15 & Net60 mean due in 15 or 60 days, respectively, etc), but sometimes invoices simply say "NET" with no number. In my accounting classes (25 years or so ago) I was taught that "NET" means "NET 30", so I have always assumed this to be the case. Recently a vendor demanded payment for an invoice with "NET" terms that was less about 2 weeks old. He contended that "NET" means "due immediately" Who's right?
NOCG for cash flow analysis is Net Operating Cash Generated.
The term 2 15th prox net 30 terms is an accounting term indicating when payment is due. The payment for this would be that half is due on the 15th of the month and the balance due in 30 days.
There are a number of things that CO PG may mean in accounting. In most cases, these are used to mean controlling page. The meanings may vary depending on the context.
In accounting Dr stands for Debit Cr stands for credit the terms literally mean Debit (left side of the accounting equation) Credit (right side of the accounting equation)
The phrase Net 30 prox is used in the accounting field. It means that a buyers payment is due 30 days from the day they receive the shipment.
Every transaction has a dual effect (where the money came from, where the money goes to).
In most cases, businesses will issue invoices with terms and conditions. One of the common ones for business to business is "net 10" or "net 30". Simply put, this means the balance is due within 10 days of the invoice being issued. In some cases, companies will offer a discount if the invoice is paid in the specific number of days and/or will charge a fee if it is not paid. Generally if there is a discount it is included in the terms such as 1%/Net 10. You can read about this common accounting term at Investopedia (see related link below).
What does it mean for a customer if they purchase $250.00 worth of supplies on the 3rd day of the month and the terms are Net 30 Days?