Accounts receivable / Cash. When it's invoiced it will take money out of cash and into the product or service account.
What does your contract have to say?
Verification that the amount invoiced matches the amount ordered and received
February
Debtors control itself does not involve VAT; it is an accounting term that refers to the management of amounts owed to a business by its customers. However, when a sale is made and the debtor is invoiced, VAT may be applicable on that sale, impacting the overall financial transaction. Therefore, while the debtor's account tracks amounts due, VAT is related to the sales transaction and must be accounted for separately.
It means the enitre amount of the bill is due within 45 days, from which the bill was invoiced.
What does your contract have to say?
request for payment i.e. billTypically a request for payment.
Ethically speaking has to be paid back.
Verification that the amount invoiced matches the amount ordered and received
February
Debtors control itself does not involve VAT; it is an accounting term that refers to the management of amounts owed to a business by its customers. However, when a sale is made and the debtor is invoiced, VAT may be applicable on that sale, impacting the overall financial transaction. Therefore, while the debtor's account tracks amounts due, VAT is related to the sales transaction and must be accounted for separately.
It means the enitre amount of the bill is due within 45 days, from which the bill was invoiced.
ITS A ENTRY THAT HAS NO TERMS OF PAYMENT. IT ALLOWS YOU TO KEEP TRACT OF ITS VALUE (WORTH) TO BE INVOICED OR WRITEN OFF AT A LATER DATE. ?????
20% discount off the invoiced amount if paid within 10 days, otherwise pay the full invoiced amount within 30 days. It's a nice way to give your customers a discount for paying within 10 days, while speeding up the process of getting your money. A win/win.
Over recoveries of invoiced amounts typically refer to situations where a business has received more payment than what was actually due. The process usually involves identifying the overpayment, notifying the customer, and determining whether to issue a refund or apply the credit to future invoices. The accounts affected in this scenario typically include the Accounts Receivable for the initial invoiced amount and a liability account or a refund account for the over recovery until it is resolved. Proper documentation and adjustments are essential to maintain accurate financial records.
All three dates should be included.
yes but its highly taxed so you will be invoiced and only when payment has gone through does customs tell auspost to deliver it