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What is 4 percent 25th prox net 60?
These are accounts receivable and accounts payable terms. "4% 25th prox" means that the payer of this invoice will be granted a 4% discount (usually excluding freight costs) if the bill is paid by the 25th of the next month. "Net 60" means that the full invoice is due 60 days after the invoice date. On a Receivables side, it is important to save envelopes of incoming payments which have NOT met the discount deadline, to document when a payment was mailed. Part of the Payables/Receivables cat-and-mouse game is for a customer (the payer) to PRINT a check in time to deduct the discount - but not MAIL it until the customer has funds to cover it. The vendor (seller who is owed the money) has offered the discount if paid according to the terms, and if the payer does not honor the terms, the payer forfeits the discount. In a dispute, the remittance envelope proves the payment date. In reality, if the payer usually pays timely and is otherwise a good customer, the vendor will grant the discount. It's all negotiable.
What does net mean in math terms for 7th grade?
Net means.the amount of units squared will fit around a box with out over lapping and having enough for the sides to.
What does terms of Net on a contract mean?
If you mean on a contract that you need to pay (invoice), it probably has something like 2/10 net 30. If this is what you are talking about it means that you can take a 2% discount if it is paid within 10 days, otherwise the "net" amount is due in 30 days.
What is the definition of net in math terms?
There are two main uses. One, from graph theory, is essentially the same as a network. A net consists of a number of nodes (points), some of which are connected by lines. The second use comes from basic solid geometry. A net of a three-dimensional obect is a two dimensional shape that can be folded into the 3-d shape.
How much would a sales discount be on an invoice that totals 3000 is dated Jan 14 has terms of 2 10 net 30 and is paid on Jan 25?
60
What is Net 30th prox?
Net 30th prox are payment terms such that all invoices for a given month are payable in one lump payment due 30 days after the end of the month of invoice
What are Payment terms Net 45 PROX?
45 days from the end of the current month.
What is 2 15th prox net 30 terms?
The term 2 15th prox net 30 terms is an accounting term indicating when payment is due. The payment for this would be that half is due on the 15th of the month and the balance due in 30 days.
What does Net 30 Prox mean?
The phrase Net 30 prox is used in the accounting field. It means that a buyers payment is due 30 days from the day they receive the shipment.
What are payment terms 15-15 Net Prox 1.2?
15-15 Prox 1.2 payment terms means that any product shipped/received from the 15th of one month to the 15th of the next month will be paid on the 2nd month of the 2nd day. For an example, anything shipped between July 15 ~ Aug 15 will be paid on October 2. It would be similar to Net 45 ~ 75 days. Items shipped on Aug. 15 would get paid in 45 days and items shippped on July 15 will be paid in 75 days. It behooves you to ship as much as close to the 14th as possible.
What does 2 percent 2nd 10th net 30 payment terms mean?
stupud
What is Net tenth prox?
Clarification -- prox is a shortned form of the latin proximo, meaning next (not approxmate as is commonly beliexed.) So, Net 10th Prox menas that payment in full is due ON the 10th of the next (proximo) month.
What is Net 13th 2third prox third 13th subsequent?
What is net 13th, 23rd prox 3rd 13th sub
What is net 25 prox payment terms?
It means that all invoices from a given month are due by the 25th of the following month. For example, invoices dated 1/01/08 thru 1/31/08 are due 2/25/08.
What are terms for net 30 payment?
Payment is due in 30 days with no discount
What is payment terms of 2 percent 15th prox net 25?
Usually 2 % 15th prox net 25 means, if you pay by the 15th of the following month you can take a 2% discount, net 25 means the full amount is due by around the 25th of the month.Many companys offer this small discount to customers to encourage to pay early. 2% may not seem like much, but if you are a company, buying from another company and spending thousands of dollars, 2% can add up to be a HUGE savings.Prox stands for Proximo meaning Of or in the following month
What is prox 60 payment terms?
A "Prox 60" payment term means that the clock on invoice aging starts at the end of a given month rather than upon actual receipt of the invoice. Example: ACME Widget's AR department invoices customer SlyFox, Inc. weekly for goods and services performed the week before. ACME invoices SFI on Jan 7, 14, 21 and Jan 28. With a Net 60, the invoices would each be due no later than 60 days from the issue date. So, (basically) March 7, 14, 21 and March 28. With a Prox 60, all four invoices are due no later than March 31, because the 60 day payment "clock" for any January invoice doesn't kick in until January 31. Prox 60 is a pretty sweet deal for a buyer. Simplified AP and what amounts to a Net 85 term for early month billing. Because of this, Prox 60 is hard to come by and the savvy business provider will either avoid it altogether or will adjust pricing and other contract terms accordingly. Hope this helps.
