Accounts Receivable

Accounts payable are used to record money that is owed by a company to another entity, bank, vendor, service provider, etc. Account payable is also used for money owed that will be paid off in a short period of time, less than a year. Arrangements for payment is usually made by the company and the entity that the money is owed to at the time of the transaction. To shorten this time, pay the balance due.

Adjusting entries are needed because transactions made at different times. For example, we purchase a computer on account for $1500 on March 5, at the time of the transaction we record the entry as

March 5

Equipment-Computer (debit) $1500

Accounts Payable (credit) $1500

later in say the month, we may make a payment to this account, we need to "adjust" these accounts to show the current state of them. Say on March 20, we make a payment of $500 on the account, we have to show this adjustment by doing the following adjusting entries.

March 20

Accounts Payable (debit) $500

Cash (credit) $500

This adjusting entry reflects what we now owe to the account payable, with out the adjusting entry, our books would still be showing that we owe the full amount even though we paid part of it.

Current liabilities are liabilities that the company will pay off in a short period of time, usually a year or less, such as accounts payable. Long term liabilities are liabilities that the company will pay off over a longer period of time, more than one year, these are things like Notes Payable.

Current liability is a liability that will be paid for in a short period of time, usually consisting of less than a year. Accounts payable are current liabilities, while notes payable are long term liabilities.

abcdefg

Check all the ledger account post the Jv in the respective accounts come out with final balance of the ledger account then start putting figures in trial balance & then prepare trading, profit & loss account & balance sheet for the respective year.

the use of office equipment is to use in the office so like duuuuuuuuuuuh

Account entry for income tax is a tax that you have to pay when you go in a store or a restaurant in Canada.

http://chinese.com/ = this is the website where can you check the answer to make sure

Accounts Receivable Carry Cost considers cost factors such as cost of capital, bad debt, legal and collection fees, fees, credit card fees, discounts and service charges to evaluate the effectiveness of Accounts Receivable management

provided

Examples of current assets are cash(in hand or at bank),

Prepaid rent A/c Dr To, Rent A/C

a credit

Plant asset is long term asset which normally included machinery and which is used for more than one fiscal year for revenue generation while current assets are those asset which is usable for one fiscal year only.

should accounts revceivable (net) bedeleted out

Not sure what the first answer is saying, but net accounts receivable is total accounts receivable less allowance for doubtful accounts (accounts you think are not going to pay you)

Accounts Payable or Notes Payable, which also fall under Current Liabilities (to be paid in one 12 months or less) and Long-Term Liabilities (paid in more than 12 months) Accounts Payable would fall under Current

Notes Payable would fall under Long-Term

The reason why employers hire people with a strong work ethic because they have a high education or more things that are required to have in order to have that job.

it is when you get a free trade

$.ooooooooooooooooooooooooo2

purchase a/c Dr

To Customer Name

(Being Credit Purchase to C ' Name Rs)

The value of USD in INR keeps changing every moment. The best bet would be to issue this exact search in google, and you will get the current exchange rate.

An Account Receivables Aging Report is a report used by a business to show how long an invoice for payment has been outstanding.

For example: You are a lawyer and have your own private practice. As you do service for your clients, you bill those clients for a certain dollar amount. Those bills to your clients are "accounts receivable" to your law practice (that means money owed to you).

Well, some of these clients may not pay immediately upon receiving the bill from the lawyer. In fact, it may take months for the clients to pay the amount owed.

An Accounts Receivable Aging Report shows how much money is owed to the firm and for how long. It usually breaks the time-frames done by 30, 45, 60, and 90+ days.

Yes, Its a matter of outstanding amount which will be further categorised into 30,60 and 90 + days. For any practice account receivable aging should have to be lesser. If the amount is huge that mean something wrong in their process. To improve their collection, i have some tips here. http://billingatchennai.blogspot.com/2010/01/account-receivable-aging-follow-up.html

You make them to undesdand when we talk about debtors we talk about what

The main difference between a current and non current asset is how quickly the asset can be liquidated (sold for cash). A current asset is something that can be sold within a business cycle, which is typically a year. A non current asset is exactly the opposite - an asset that cannot be converted within a year.

Never alter an original invoice, especially if the invoice has been sent to the consumer. If the invoice has not yet been sent, then it is better to destroy (void with notes as to why it's been voided) the invoice and make a new one with the changes, altering the invoice is unacceptable.

If the invoice has been sent to the consumer an invoice adjustment must be sent to the customer, noting all the changes that were needed.

Paying close attention when filling out an invoice is very important. If the error(s) things such as an overcharge of the balance, then correction is easily made, in some (although extremely rare) if the error(s) is an undercharge to the consumer the company may have to take the loss and take steps to insure that this error never happens again.