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Payable or Paid
in Daily Dose
In the page "Recent Payments" there is a heading "Paid" a term which I do not consider to be appropriate and properly reflects the factual position of an accounting event. When the cheques are issued to the members and they encash these by depositng into their respective bank accounts. Accordingly their accounts get credited and a corresponding debit against boddunan's bank account follows.Thus the entire cycle is completed when boddunan comes to know of the debit from the bank statement. In the light of this I would suggest to change the term from "Paid" to "payable"to reflect the intermediate stage. What do you think?
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    Well.. I agree with you in your point of view. But in boddunan point of view, the effective payment made on our records is on the date the payment is generated. So it will go into paid account only.

    When opportunity is in front of you, don't hesitate to catch it. It will never come to you again. - Maverick

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    But such constructive payments are not recognized in accounting conventions and my take on this issue is based on that.It's a suggestion only. Thanks for responding to it!
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    The amount shown as paid is that actually paid by cheque. The amount earned is payable. The amount earned minus paid is the balance. Apparently, the amount is correctly shown.

    G. K. Ajmani Tax consultant
    http://gkajmani-mystraythoughts.blogspot.com/

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    A forum discussion with blank body with the same title is seen here.Unfortunately I went there first and saw nothing.Moderator please remove that thread.
    Visit my blogs:

    http://abidareacode.blogspot.com
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    Abid Areacode wrote:
    [quote]A forum discussion with blank body with the same title is seen here.Unfortunately I went there first and saw nothing.Moderator please remove that thread.[/quote]

    I think Soubhagya is offline today.

    When opportunity is in front of you, don't hesitate to catch it. It will never come to you again. - Maverick

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    Yes, had not seen him today.So if he comes online I think it will be removed.But can't you remove it?
    Visit my blogs:

    http://abidareacode.blogspot.com
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    I am not the moderator for it and so have no permissions :( .

    When opportunity is in front of you, don't hesitate to catch it. It will never come to you again. - Maverick

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    Hi Gulshan!

    My post does not relate to the details as they appear in My Page section, rather the "Recents Payment" page in which there are two heads- Amount Paid and Date of Payment and my views on it should construed accordingly.
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    I have already deleted that Blank forum.
    Chinmoy Boddunan has issued the cheque means money has paid to members, it sounds good and its true also
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