ekuemoah
05-11-2012, 04:39 PM
When I usually buy a book from Amazon.com, the shipper or amazon.com sends me an email telling me that the items have been shipped. This is usually 2 days after I buy the items. If I were purchasing this for a business and shipping the items FOB_Shipping, would I record the assets in my inventory on the day that the I get the email telling me the items were shipped or the day that I made the purchase?
Is it common practice for a vendor to send a notification to a buyer stating that the items they purchased were shipped or do businesses just use the date purchase order was sent as the date when recording the items as Inventory?
I have a question about trade terms. The trade terms are from the billing statement date. Do you count from the statement date and not the date I received the statement? So,when I receive it, I would open the bill and stamp it with a time and date stamp for the date received, correct?
For example, if I get a bill (2/10,n/30) for the purchase on May 2nd but the statement date is on April 28th, I would count days from April 28th?This would make the last date to take the discount April 8th, correct? Do I count just business days(Mon-Friday) or Do I count business and weekends in calculating this?
Thank You
Is it common practice for a vendor to send a notification to a buyer stating that the items they purchased were shipped or do businesses just use the date purchase order was sent as the date when recording the items as Inventory?
I have a question about trade terms. The trade terms are from the billing statement date. Do you count from the statement date and not the date I received the statement? So,when I receive it, I would open the bill and stamp it with a time and date stamp for the date received, correct?
For example, if I get a bill (2/10,n/30) for the purchase on May 2nd but the statement date is on April 28th, I would count days from April 28th?This would make the last date to take the discount April 8th, correct? Do I count just business days(Mon-Friday) or Do I count business and weekends in calculating this?
Thank You