Accounts Payable Questions

It is the allowance paid to an employee who is working on a special assignment.  This amount is completely exclusive of his Compensation plan.  These are given in scenerio's like, when the employee went for On Job Training or an Employee sent for short term Deputation to survive his expenses in the new location.

The financial statements should be prepared in the following order:

Income statement - Statement of retained earnings - Balance sheet

1. Income statement reports revenues and expenses and calculates net income or net loss for the time period.

2. Statement of retained earnings show how retained earnings changed during the period due to net income or net loss and dividends.

3. Balance sheet reports assets, liabilities, and stockholders’ equity as of the last day of the period.

Consigner is the person who is the owner of the goods and who delivers the goods to others(consignee) Whereas Consignee is the person who receives the goods and just holds the goods and will not be the owner.

The Debit balance recovery is usually made by raising a credit memo for the regular vendors. However if there are no future transactions from the supplier, we ask the vendor to send the check / make an EFT for the amount due from him.

The primary purpose of life insurance is to provide financial protection to surviving dependents after the death of an insured.

You can use document parking to enter and store (park) incomplete documents in the SAP System without carrying out extensive entry checks.