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  2. Debtor - Wikipedia

    en.wikipedia.org/wiki/Debtor

    The counterparty is called a creditor. When the counterpart of this debt arrangement is a bank, the debtor is more often referred to as a borrower. If X borrowed money from their bank, X is the debtor and the bank is the creditor. If X puts money in the bank, X is the creditor and the bank is the debtor. It is not a crime to fail to pay a debt.

  3. Accounts receivable - Wikipedia

    en.wikipedia.org/wiki/Accounts_receivable

    Accounts receivable represents money owed by entities to the firm on the sale of products or services on credit. In most business entities, accounts receivable is typically executed by generating an invoice and either mailing or electronically delivering it to the customer, who, in turn, must pay it within an established timeframe, called credit terms [citation needed] or payment terms.

  4. Debtor finance - Wikipedia

    en.wikipedia.org/wiki/Debtor_finance

    Debtor finance products, by whatever name, essentially fall into two categories: Confidential : the customer or end-user is unaware of the funding being provided, often called 'invoice discounting', Disclosed : traditionally referred to as ' factoring ', where invoices have a notice that warns the customer to pay the funds to the financier in ...

  5. Chart of accounts - Wikipedia

    en.wikipedia.org/wiki/Chart_of_accounts

    A chart of accounts (COA) is a list of financial accounts and reference numbers, grouped into categories, such as assets, liabilities, equity, revenue and expenses, and used for recording transactions in the organization's general ledger. Accounts may be associated with an identifier (account number) and a caption or header and are coded by ...

  6. Deferral - Wikipedia

    en.wikipedia.org/wiki/Deferral

    For example, if a service contract is paid quarterly in advance, the remaining two months at the end of the first month are considered a deferred expense. The prepaid amount is then recognized as an expense in subsequent accounting periods, with the corresponding amount deducted from the prepayment.

  7. These are the best debt relief options — which is ... - AOL

    www.aol.com/finance/different-debt-relief...

    The debt settlement company will tell you to stop paying your creditors to give it negotiation leverage. You can expect your score to take a massive hit when working with a settlement company.

  8. How to consolidate debt without hurting your credit

    www.aol.com/finance/consolidate-debt-without...

    Faster debt repayment: The main advantage of consolidating debt is combining multiple monthly payments into a single monthly payment. This allows you to direct your payments to a single source.

  9. Debt snowball vs. debt avalanche method: Which payoff ... - AOL

    www.aol.com/finance/debt-snowball-vs-debt...

    Examples: Debt snowball vs. debt avalanche The best way to get a sense of how these repayment strategies compare is to look at a few examples. Example 1: Similar balances, different rates

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