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igomit [66]
2 years ago
15

Wise Guys Consulting issues an invoice for $9,000 to one of their clients for services provided. The terms of the invoice call f

or payment 30 days after the invoice date. What would be the impact at the date the services are completed and invoiced?
Business
1 answer:
Colt1911 [192]2 years ago
8 0

Answer:

<em>The impact on the date the services are completed and invoiced is just that the payment of $9,000.00 has been processed and received on the 30th day of the month.</em>

Explanation:

While entering an <em>Advance Payment (AP) </em>invoice, there is the option to enter an invoice and posting date: Invoice Date – refers to <em>the date of the actual invoice</em>, This is used to determine the <em>due date</em>. The payment terms use this date to determine the due date and discount period. Post Date is used for<em> releasing to General Ledger.</em>

<em></em>

<em>A transaction date in the date upon which a trade takes place for a security or other financial instrument. The transaction date represents the time at which ownership officially transfers</em>

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