{"id":5193,"date":"2014-12-17T06:16:22","date_gmt":"2014-12-17T04:16:22","guid":{"rendered":"http:\/\/www.officetodo.com\/public\/?p=5193"},"modified":"2014-12-13T06:17:31","modified_gmt":"2014-12-13T04:17:31","slug":"what-is-payable-to-a-supplier","status":"publish","type":"post","link":"http:\/\/www.officetodo.com\/public\/what-is-payable-to-a-supplier\/","title":{"rendered":"What is \u2018payable to a supplier\u2019?"},"content":{"rendered":"

What is \u2018payable to a supplier\u2019? First I would like to define the term \u2018supplier\u2019. In practice for some reason it creates some confusion and I have seen often enough some people thinking you sell your goods to your supplier. Whilst this may happen, it\u2019s a case your supplier becomes your client at the same time. \u2018Supplier\u2019<\/strong>\u00a0is someone\u00a0you<\/strong>\u00a0buy goods and\/or services from<\/strong>; they supply you with goods and\/or services you require. For argument purposes, your \u2018customer\u2019<\/strong>\u00a0is someone\u00a0who<\/strong>\u00a0buys goods and\/or services from you<\/strong>. So now that\u2019s clear we can move on.\u00a0<\/p>\n

A \u2018payable\u2019 in a company\u2019s accounts is a balance the company owes to its supplier. Under normal conditions you would first get the goods, the service and you would be invoiced (i.e. you get an invoice with the payment date sometime in near future). In such case you encounter a situation where you owe for something you already obtained and as this what you obtained, is put into use or is your risk now (risks and rewards have transferred), you should also recognize the fact that you still need to pay for it within your company\u2019s accounts.<\/p>\n

This \u2018something you have to pay\u2019 is in fact the \u2018payable\u2019 part of the \u2018payable to a supplier\u2019 so there you have it. A payable to a supplier is an amount you owe to a party you bought goods and\/or services from.<\/p>\n","protected":false},"excerpt":{"rendered":"

What is \u2018payable to a supplier\u2019? First I would like to define the term \u2018supplier\u2019. In practice for some reason it creates some confusion and I have seen often enough some people thinking you sell your goods to your supplier. Whilst this may happen, it\u2019s a case your supplier becomes your client at the same […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[80],"tags":[],"class_list":["post-5193","post","type-post","status-publish","format-standard","hentry","category-2-10-purchases-and-payables"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t