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

The use of ledger accounts, The use of ledger accounts A journal entry ...

The use of ledger accounts A journal entry is similar to a set of instructions. The execution of these instructions is known as posting. Since stated earlier posting is recordi

The capital accounts of hawk and martin have balances of, The capital accou...

The capital accounts of Hawk and Martin have balances of $160,000 and $140,000, respectively, on January 1, 2010, the beginning of the current fiscal year. On April 10, Hawk inve

Writing job, I am looking for job in your company. I possess academic writi...

I am looking for job in your company. I possess academic writing experience of 1.5 years in accounting field.

Analysing and recording process, Analysing and Recording Process Quest...

Analysing and Recording Process Question A friend knows that you are studying the Business Accounting 1 course, so he approaches you and enquires about the steps of the ana

Accounting errors-transaction errors, Accounting Errors-Transaction Errors ...

Accounting Errors-Transaction Errors How would the following errors affect the account balances and the basic accounting equation, Assets = Liabilities + Owners' Equity? How do the

Concept of conservatism, Concept of Conservatism: The concept of conse...

Concept of Conservatism: The concept of conservatism, also termed as the concept of prudence, is frequently stated as "anticipate no profit, give for all possible losses". It

Prepare the adjusting entry needed for hi-tech, Scenario Sara Jones ope...

Scenario Sara Jones opened a technical consulting business called Hi-Tech For the Future earlier in the year. So far, she has been successful in providing services and selling

Non performing asset?, An asset or account of borrower, which has been clas...

An asset or account of borrower, which has been classified by a bank or financial institution as sub-standard, doubtful or loss assets as per the guidelines issued by RBI. An

#title.suspense account, The book of Deven Verma could not be tallied. The ...

The book of Deven Verma could not be tallied. The account transferred the difference of Rs. 1.270 in the suspense account on the debit side. the following mistakes were found later

Traiinng progrum, How to perform a basic accounting training progrum ..

How to perform a basic accounting training progrum ..

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