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What is cash payment upon delivery?
You pay cash when the unit/s are /is ready for delivery.
Why was there a need to require companies to prepare a statement of cash flows?
because otherwise there would be no cash
What is the difference between a cash payment and a payment made to a vendor or contractor through AP and why is one better than the other?
The difference between a cash payment and a payment made to a vendor or contractor through accounts payable is as follows: In a cash payment, the company using the services of the vendor immediately recognizes the expense (by increasing the expense account) and hand over the cash to the vendor (by decreasing the cash asset account). For the vendor, they recognize the revenue upon completion (by increasing the revenue account) and move the cash onto their balance sheet (by increasing the cash asset account). In an accounts payable transaction, the company using the services of the vendor immediately recognizes the expense (by increasing the expense account) and acknowledges the debt (by increasing the accounts payable liability). For the vendor, they recognize the sale (by increasing the revenue account) and acknowledges that the company using their services owes them for the work that they did (by increasing the accounts receivable account). Time eventually passes for the accounts payable transaction and the company that used the services of the vendor sends payment to the vendor (by decreasing the cash account) and acknowledges that the debt is paid (by reducing the accounts payable liability). The vendor receives payment in the mail (by increasing the cash asset account) and acknowledges that the debt is paid (by reducing the accounts receivable asset). The key difference is which party is providing the cash flow. For a cash payment, the transaction is best for the vendor because they are receiving cash immediately. For an AP transaction, the service user is better because they held onto cash for some period of time.
What is the journal entry payment to the vendor?
Debit accounts payableCredit cash /bank
What does COD mean in payment terms?
Cash on Delivery
Can you pay cash on delivery?
Only if the vendor will accept it. If they don't have a policy on it or say specifically, NO C.O.D.s, then no.
What does COD refer to regarding a commercial credit reference from a vendor?
COD stands for "Cash on Delivery" in the context of a commercial credit reference from a vendor. It means that the vendor requires the buyer to pay for the goods or services at the time of delivery, rather than on credit terms. This is a way for the vendor to ensure immediate payment and reduce the risk of non-payment.
What is this dingbats answer MONEY over the word BIRTH - any ideas?
cash on delivery
Under what circumstances would a business require a cash advance?
Any business owner when they are tight in cash flow,they would require a cash advance, even individual people when they are out of cash, will use cash advance.
What is the abbreviation for Cash on Delivery?
The abbreviation to cash on delivery is COD.
What is cash payment upon delivery?
You pay cash when the unit/s are /is ready for delivery.
What is the journal entry to correct a payment of a bill which was paid to another vendor in error?
[Debit] Correct Vendor [Credit] Wrong Vendor Only Vendor accounts will be adjusted as cash or bank account is already charged correctly.
Is flipkart cash on delivery?
Yes, flipkart cash on delivery also available for online shopping
Why was there a need to require companies to prepare a statement of cash flows?
because otherwise there would be no cash
What is the difference between a cash payment and a payment made to a vendor or contractor through AP and why is one better than the other?
The difference between a cash payment and a payment made to a vendor or contractor through accounts payable is as follows: In a cash payment, the company using the services of the vendor immediately recognizes the expense (by increasing the expense account) and hand over the cash to the vendor (by decreasing the cash asset account). For the vendor, they recognize the revenue upon completion (by increasing the revenue account) and move the cash onto their balance sheet (by increasing the cash asset account). In an accounts payable transaction, the company using the services of the vendor immediately recognizes the expense (by increasing the expense account) and acknowledges the debt (by increasing the accounts payable liability). For the vendor, they recognize the sale (by increasing the revenue account) and acknowledges that the company using their services owes them for the work that they did (by increasing the accounts receivable account). Time eventually passes for the accounts payable transaction and the company that used the services of the vendor sends payment to the vendor (by decreasing the cash account) and acknowledges that the debt is paid (by reducing the accounts payable liability). The vendor receives payment in the mail (by increasing the cash asset account) and acknowledges that the debt is paid (by reducing the accounts receivable asset). The key difference is which party is providing the cash flow. For a cash payment, the transaction is best for the vendor because they are receiving cash immediately. For an AP transaction, the service user is better because they held onto cash for some period of time.
What are the release dates for Cash on Delivery - 1910?
Cash on Delivery - 1910 was released on: USA: 25 June 1910
What is the journal entry of advance to vendor?
Prepaid Expenses $XXX.XX ________Cash___________ $XX.XX
