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

how is withdrawaL OF goods by owner for personal use treated in the books

Read it once and answer, if The following items appear on a balance sheet.   $   Inventory balance at bank cash in hand trade

UOIT has recently appointed you to prepare an independent consulting report to analyze the university's current financial position and to provide some recommendations for improve

Q. Explain about perpetual inventory procedure? When discussing inventory we require clarifying whether we are referring to the physical goods on hand or the Merchandise Invent

Earlier we defined accounting as the process of measuring, identifying and communicating economic information to permit informed judgments and decisions by the users of the informa

What are the golden rule of accounting how to pass journal entry when strating bussines what

Provided services on credit to Yamato P/L $5 900. How do we apply this in the t accounts

what all things do we have to treat in revaluation account

I am doing a report on finding the major challenges in the future of my university with regards to their revenue and expenses. I have to discuss the main financial obstacles face