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Modern systems will often scan a paper remittance advice into a computer system where data entry will be performed. Modern remittance advices can include dozens, or hundreds of invoice numbers, and other information. Remittance advices can be very complicated, especially in specialized fields like medical insurance payments.
A take-or-pay contract, or a take-or-pay clause within a contract, is a payment obligation agreed between a business customer and its supplier. With this kind of contract, the customer either takes the product from the supplier or pays the supplier a penalty. For any product the company takes, it agrees to pay the supplier a certain price, say ...
A refund of part or sometimes the full price of the product following purchase, though some rebates are offered at the time of purchase. A particular case is the promise of a refund in full if applied for in a restricted date range some years in the future; the hope is that the promise will lure customers and increase sales, but that the ...
Drawback is the refund of duties, certain taxes, and certain fees collected upon the importation of merchandise into the United States. Drawback refunds are only allowed upon the export/destruction of the imported merchandise or a valid substitute, or the export/destruction of a certain article manufactured from the imported merchandise or a ...
This system can be used to prevent various problems, such as return fraud. [4] [9] These controversial practices of collecting information have been addressed by privacy rights advocates and spurred a movement for boycotting chains that collect consumers' private information and allow third party sources to use it. The request of presenting a ...
Recently, some companies have begun sending what appears to be a rebate or refund check; in reality, it is a registration for services that is activated when the document is returned with a signature." In accounts payable, a simple mistake can cause a large overpayment. A common example involves duplicate invoices. [9]
Reimbursement is the act of compensating someone for an out-of-pocket expense by giving them an amount of money equal to what was spent. [1]Companies, governments and nonprofit organizations may compensate their employees or officers for necessary and reasonable expenses; under US [2] [3] law, these expenses may be deducted from taxes by the organization and treated as untaxed income for the ...
Management accounting in supply chains (or supply chain controlling, SCC) is part of the supply chain management concept. This necessitates planning, monitoring, management and information about logistics and manufacturing processes throughout the value chain. The goal of management accounting in supply chains is to optimise these processes.