Why term is used vendor instead of
This query is : Resolved
24 October 2024
why term is used vendor instead of Trade payable or Creditots in corporate.
Dhirajlal Rambhia
(Expert)
24 October 2024
Each word has specific meaning...
Trade payables arise when a company buys goods or services from suppliers without paying cash immediately. Instead, the company agrees to pay for these goods or services at a later date.
A creditor is who lends money or extends credit to another party, known as the debtor or borrower, with the expectation of being repaid, usually with interest.
A vendor is an individual or organization that sells goods, services, or both, be on cash or credit.
Trade payables arise when a company buys goods or services from suppliers without paying cash immediately. Instead, the company agrees to pay for these goods or services at a later date.
A creditor is who lends money or extends credit to another party, known as the debtor or borrower, with the expectation of being repaid, usually with interest.
A vendor is an individual or organization that sells goods, services, or both, be on cash or credit.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Tax on Amount transferred in HUF Account
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
