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EOM stands for "end of month".
Net 10 EOM means that the net amount of the account is due 10 days after the end of the month which the sale was made.
Eg. Customer buys $25,134 worth of merchandise from your store on 14th July.
N10 EOM credit terms means that this account must be paid by the 10th June.
Hope that helps
Edit: I believe in the example that the original poster meant 10th August as the pay date as 10th June would be roughly 11 months after purchase.
What else can I help you with?
What does Net 10 days?
"Net 10 Days" means payment is due in 10 days. Which is normally from date of invoice and with goods already in transit. For this instance the terms would be: Net 10 Days from date of Invoice If you do not want to ship goods prior to payment you would use the above term and add "Prior to Shipment".
What does Net tenth mean?
Net 10 means within 10 days of the date of invoice.
What is 3.45 percent 10 net 90 days payment terms?
It means that you have 90 days to pay the invoice, and if it is paid within 10 days, you receive a 3.45% discount on the original invoice amount.
Accounts used to post purchased merchandise with terms are 210 n30?
2/10 n30 means that there is a 2% discount if paid in 10 days, otherwise the full net amount is due in 30 days.
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 is meant by net 10 EOM 60?
"Net 10 EOM 60" refers to payment terms in a business transaction. It means that the total invoice amount is due within 10 days after the end of the month (EOM) in which the invoice was issued, and the full payment must be made within 60 days. Essentially, this gives the buyer a short window for early payment discounts while allowing for a longer period for the total amount to be settled.
What does 2 percent 10th Net EOM mean?
"2 percent 10th Net EOM" refers to a payment term often used in business transactions. It means that a buyer can take a 2% discount on the invoice total if they pay within 10 days; otherwise, the full amount is due at the end of the month (EOM) in which the invoice was issued. This incentive encourages prompt payment while still allowing a standard payment period.
What is 10 eom plus 60?
An invoice dated 4/21/10 with Net 10 EOM+60 Days will be due within 10 days of the end of month (5/10/10) with an additional 60 days after that. So the due date will be 5/10/10 plus 60....actual due date is 7/09/10.
Net 10 eom?
The payment to the supplier is due in FULL 10 days after the end of the month of the invoice. If the invoice is issued January 15th . The payment in full is due February 10th.
Invoice phase 3 10 net 30 means?
An invoice with the terms "3/10 net 30" is summarized as follows: (1) "3/10" means that if the buyer of the service/goods pays within 10 days (of the date of the invoice), the seller will give them a 3% discount on the invoiced balance (2) "net 30" means that the whole balance is due in no later than 30 days (of the date of the invoice)
What does terms of Net on a contract mean?
If you mean on a contract that you need to pay (invoice), it probably has something like 2/10 net 30. If this is what you are talking about it means that you can take a 2% discount if it is paid within 10 days, otherwise the "net" amount is due in 30 days.
What does Net 10 days?
"Net 10 Days" means payment is due in 10 days. Which is normally from date of invoice and with goods already in transit. For this instance the terms would be: Net 10 Days from date of Invoice If you do not want to ship goods prior to payment you would use the above term and add "Prior to Shipment".
What does Net tenth mean?
Net 10 means within 10 days of the date of invoice.
What does net 10 mf mean?
"Net 10 MF" typically refers to payment terms in a business context. It means that the net amount is due within 10 days of the invoice date, and "MF" usually stands for "monthly factoring," indicating that the payment may be linked to a factoring arrangement, where a business sells its receivables to a third party at a discount for immediate cash. These terms help manage cash flow and prompt timely payments.
What is 3.45 percent 10 net 90 days payment terms?
It means that you have 90 days to pay the invoice, and if it is paid within 10 days, you receive a 3.45% discount on the original invoice amount.
What does pay net ten mean and what is the net refers 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).
Accounts used to post purchased merchandise with terms are 210 n30?
2/10 n30 means that there is a 2% discount if paid in 10 days, otherwise the full net amount is due in 30 days.
