answersLogoWhite

0

Accounts receivable / Cash. When it's invoiced it will take money out of cash and into the product or service account.

User Avatar

Wiki User

16y ago

What else can I help you with?

Related Questions

How long does a company have to pay after you have invoiced them as a contractor?

What does your contract have to say?


Invoiced means what?

request for payment i.e. billTypically a request for payment.


What happens to over recoveries of invoiced amounts?

Ethically speaking has to be paid back.


What is the purpose of entering the amount from the invoice?

Verification that the amount invoiced matches the amount ordered and received


A product shipped on February 1st but invoiced on January 31st should be recorded as revenue for?

February


Does debtors control have VAT?

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.


What does payment terms of Net 45 days mean?

It means the enitre amount of the bill is due within 45 days, from which the bill was invoiced.


What is the definition of memo billing?

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. ?????


What does 210 net 30 mean?

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.


What really happens to over recoveries of invoiced ammounts- list process as well as accounts?

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.


If a trasaction has occured on 15 of august but was invoiced on 18 and delivery was done on 20 when do you record it in the business books?

All three dates should be included.


Can you send tobacco to Australia through post?

yes but its highly taxed so you will be invoiced and only when payment has gone through does customs tell auspost to deliver it