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In the context of Individually Billed Accounts (IBAs), the individual cardholder is typically liable for paying undisputed charges. This means that the individual who has been issued the account is responsible for ensuring that all valid charges are paid, regardless of whether they are reimbursed by their employer or organization. It's essential for cardholders to manage their accounts responsibly to avoid any personal financial repercussions.
What else can I help you with?
What is corporate accounts?
It is the organization that pays for the removal charges
What do balances do?
Accounts that are subject to bank service charges.
If payment of the full amount of undisputed charges to your travel charge card bill is not received and posted by the bank 61 calendar days from the closing date on the statement of account what will?
An account may be suspended if payment of the full amount of undisputed charges is not received and posted by the bank 61 calendar days from the closing date on the statement of account.
What do compensating balances represent?
Accounts that are subject to bank service charges.
Legal and Professional Charges comes under which group in accounts?
profit & loss
When The cardholder not the Government is liable for payments for?
When the cardholder is liable for payments, it typically refers to situations involving personal credit cards or accounts where the cardholder has agreed to the terms of use, including repayment obligations. This liability arises in cases of unauthorized transactions, misuse of the card, or failure to make timely payments. Additionally, in cases of joint accounts or authorized users, the primary cardholder is generally responsible for all charges incurred. In contrast, government-issued or corporate cards may have different liability structures defined by specific policies or agreements.
What types of accounts have a debit balance?
All expenditure related head of accounts are debit balance accounts. Some of the examples are cost of purchases, establishment charges, administrative expenses etc.,
What is journal entry of electricity charges?
Debit electricity chargesCredit cash /bank / accounts payable
Your truck was stolen and the thief crashed into a building and was injured how do you put charges against this person for liability and theft?
Explain it to the police.
If payment of the full amount of undisputed charges to your travel account bill is not received and posted by the bank 61 calendar days from the closing date on the statement of account what will hap?
If the full payment of undisputed charges is not received and posted by the bank within 61 calendar days from the statement's closing date, the account may incur late fees and interest charges. Additionally, the account may be reported to credit bureaus, negatively impacting your credit score. Continued non-payment could lead to account suspension or further collection actions.
Does PNC Bank offer savings accounts for children?
The PNC Bank does offer savings accounts for children. They are happy to promote them because children are less likely to build up overdrafts for instance. The accounts are provided free of charges.
What is meant by sundry charges?
Miscellaneous small or infrequent costs that are not assigned to individual ledger accounts but are classified as a group.
