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What is the difference between prepaid expense and advance payment?
Prepaid expense is a payment which relevant to services which expected to delivered in the next accounting period, while advance expense is an expense paid in advance for services expected to delivered in the current accounting period.
What is the difference between prepaid rent and rent expense?
Prepaid rent is an asset and represents and advance payment for a future benefit Rent expense is an expense and is the expended portion of the rent consumed.
What is the difference between prepaid insurance and insurance expense?
When payment for insurance is made advance of actual expenses then it is called prepaid insurance which is asset for business until insurance benefit is utilized while insurance expense is actual insurance expense when insurance benefit is taken.
Is sales revenue an expense or asset?
Sales is a revenue not an expense or asset while difference between sales and expense is profit which is liability for business.
What is the difference between gross payment and net payment?
Gross = Before TaxesNet= After Taxes
What is the difference between prepaid expense and advance payment?
Prepaid expense is a payment which relevant to services which expected to delivered in the next accounting period, while advance expense is an expense paid in advance for services expected to delivered in the current accounting period.
What is the difference between prepaid rent and rent expense?
Prepaid rent is an asset and represents and advance payment for a future benefit Rent expense is an expense and is the expended portion of the rent consumed.
What is the difference between payment for work done and an honorarium?
What is difference between payment for honorarium
How do they relate to the difference between tax expense and taxes payable?
Tax expense is the expense of current period while tax payable is that amount which Is payable to the tax authorities these two amounts may be same or there may be difference due to less or more payment in previous period or any deferred tax in current period.
What is the difference between prepaid insurance and insurance expense?
When payment for insurance is made advance of actual expenses then it is called prepaid insurance which is asset for business until insurance benefit is utilized while insurance expense is actual insurance expense when insurance benefit is taken.
What is difference between prepaid expenses and deposits?
There isn't much of a difference between a prepaid expense and a deposit. Both terms are monies that are paid in advance to pay for something. With a prepaid expense, the money pays usually for a bill or utility. A deposit on the other hand, is sometimes given back after the obligation is paid. If it is not paid, the deposit is kept as payment.
What is the difference between revenue and expense called?
Net Income
Is a car payment a variable expense or liability?
A car is a variable expense having the following properties: Car payment ( fixed Expense) Maintenance and usage costs (variable) So in total it is a variable expense. A car payment is considered a liability.
Is sales revenue an expense or asset?
Sales is a revenue not an expense or asset while difference between sales and expense is profit which is liability for business.
Why prepaid expense are not expense?
it is because,we just doing a early payment for the future expense
What is the difference between gross payment and net payment?
Gross = Before TaxesNet= After Taxes
What is the difference between direct expense and indirect expense in financial account?
give the full chart of the direct and indirect expenses . detail about this
