Excess payment to supplier, Accounting Basics

Assignment Help:

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.

 


Related Discussions:- Excess payment to supplier

Explain the meaning of payroll deductions, Explain the meaning of Payroll D...

Explain the meaning of Payroll Deductions There are numerous deductions taken from an employee's earnings. These are deducted by employer before employee receives a check. D

Wings inc., Wings Inc., a software development firm, has stock outstanding ...

Wings Inc., a software development firm, has stock outstanding as follows: 25,000 shares of cumulative 1%, preferred stock of $40 par, and 50,000 shares of $120 par common. Durin

Emerging role of accounting, The past of accounting specifies the evolution...

The past of accounting specifies the evolutionary pattern that reflects changing socioecoiom conditions and the enlarged reasons is that accounting is applied. In  the  current  co

State about the balance sheet columns of worksheet, State about the Balance...

State about the Balance Sheet columns of worksheet Balance Sheet columns of worksheet would comprise the amounts from Adjusted Trial Balance columns which are assets, capital,

Draw a stem-and-leaf plot for the data set, Draw a stem-and-leaf plot for t...

Draw a stem-and-leaf plot for the data set. (Enter numbers from smallest to largest separated by spaces. Enter NONE for stems with no values.) Data set A: The annual wages of emp

Amount of safety stock , The injection molding department of a company uses...

The injection molding department of a company uses an average of 30 gallons of special lubricant a day. The supply of the lubricant is replenished when the amount on hand is 170 ga

Inventory, most consrvatism way of lower cost method

most consrvatism way of lower cost method

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd