Excess payment to supplier, Accounting Basics

What process for excess payment to supplier I would like know without adjusting invoice that means how supplier will send back surplus amount how do in oracle apps?         

Ans) Surplus payment to supplier is treated as Advance paid to supplier. This will illustrate as debit balance in supplier account.


Supplier can give the payment by way of cheque / demand draft without adjusting in his subsequent bills.

 

Posted Date: 3/30/2013 4:01:27 AM | Location : United States







Related Discussions:- Excess payment to supplier, Assignment Help, Ask Question on Excess payment to supplier, Get Answer, Expert's Help, Excess payment to supplier Discussions

Write discussion on Excess payment to supplier
Your posts are moderated
Related Questions
Capital In addition to borrowing from banks and additional sources, all companies obtain finance from their owners. This money is usually accessible for the life of the busines

In Excel, I need help with formulas

A lobster catcher spends $12 500 per month to maintain a lobster boat.  He plans to catch an average of 20 days per month during lobster season.  For each day, he must allow approx

Super stockist is one who supply product to n no. of distributor in area. Distributor is one who supply to dealers in the area

Which statements about marginal costing are correct? 1. The marginal cost of a product involves an allowance for fixed overheads. 2. The marginal cost of a product presents t

Meranda Corporation purchases a machine for $125,000. It has an estimated salvage value of $10,000 an is expected to produce 50,000 units in its lifetime. During the first year of

Q. Dividends paid to owners? Stockholders' equity is (a) improved by capital contributed by stockholders and by revenues earned through operations and (b) decreased by expenses

80 - 20 rule - A common rule of thumb in business which says that 20% of the items produce80% of the action -- 20% of product line produces 80% of the sales, 20 percent of thecusto

How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.

Corporations frequently invest in securities issued by other corporations. Some investments are acquired to secure a favorable business relationship with another company. On the ot