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What is the meaning of a check payable to and how does it work?
A check payable to someone means that the person named on the check is authorized to receive the money specified on the check. When the recipient deposits or cashes the check, the bank deducts the amount from the account of the person who wrote the check.
What is the journal entry of telephone bill?
telephone bill acto cashWhen you receive the bill, but have not paid it, which is done in accrual accounting but not cash basis, the entry is:Telephone Expense (debit) $$$Telephone Expense Payable (credit) $$$Once the bill is actually paid, even then it is removed from the payable with the following entryTelephone Expense Payable (debit) $$$Cash (credit) $$$If you are paying the bill as you receive it, the only difference is skipping the payable account and debiting the expense account and crediting the cash in a single entry:Telephone Expense (debit) $$$Cash (credit) $$$
To whom should I make the check payable to?
Make the check payable to the person or organization that you want to receive the payment.
Accounts Payable is considered a what on the Trial Balance.?
what is it best to receive before paying and invoice
What is Accounts Payable is considered on the Trial Balance.?
what is it best to receive before paying and invoice
What is the difference between yield to worst and yield to maturity in bond investing?
Yield to worst is the lowest possible yield an investor can receive on a bond, taking into account all potential scenarios. Yield to maturity, on the other hand, is the average return an investor can expect if they hold the bond until it matures.
Is it possible to receive an inheritance from a deceased parent from a fund that was not left in a will?
Yes. The fund may have been in your parent's name at death in a "Payable on Death" account where your parent named a beneficiary directly with the company or bank that held the funds.
Accounts payable is considered a what on trial balance?
what is it best to receive before paying and invoice
Do I need a Wise account in order to receive money?
Yes, you need a Wise account to receive money.
What has become a crucial process for accounts payable in eliminating the massive amounts of paper work they receive?
imaging
Is accuracy important for accounts payable?
Accuracy is very important in accounts payable and accounting in general. If accuracy is not done in accounts payable, there could be several consequences. If you are not accurate on the amount due you may over pay a bill or under pay a bill. In the first senario one would be wasting usuable cash to the company if they overpaind a bill. If you under pay a bill, the company may receive a late fee or eventually not be given credit on account from the company in the future. Also if your accounts payable is not correct your financial statements will be incorreect. Net income of the company may be higher or lower depending on if there is an overstatement or understatement of accounts payable.
Can a collection agency receive a judgment if the statute of limitation has passed?
No, C.A'a have no form of legal recourse if the SOL date has passed
