Eom or end of month dating is the same as
Eom or end of month dating is the same as - Freechat online xxx
According to 30 day EOM terms, payment for these goods will be due on the last day of the FOLLOWING month, which will be the end of February.Net in 60 strictly means that the balance is due 60 days from the invoice date.
30 Days EOM is a payment for goods that is due 30days from the END OF the MONTH (EOM) that the goods were invoiced in.
A business that offers a 2/10 net 30 discount is expressing that it is more important to have cash as quickly as possible than it is to have the full amount of their payable.
The fact that lack of cash is one of the main reasons businesses fail makes these terms commonplace.
As you can see, it is to the buyer's advantage to have this term, as it can have an effective range of 60 to 90 days to pay for the purchase.
An invoice dated 4/21/10 with Net 10 EOM 60 Days will be due within 10 days of the end of month (5/10/10) with an additional 60 days after that.
Let's say you have a 30 day EOM account with Goodyear tyres.
You purchase goods from them in the month of January.These terms may also be referred to in a variety of terms: 2/10 n 45, 2/10 n 60, 2/10 days net 30, 2 percent 10 net 30 days.The 2/10 net 30 discount makes no statement on the payment of bills beyond 30 days.If the invoice date is January 15th, then the balance (net) is due on (or before) March 15th. Other terms used are 2n20 net 60 which merely means the payer of the invoice can take a 2 percent discount if the amount due is paid off on or before the tenth day after…I understand that "Net 30" means "due in 30 days" (Net15 & Net60 mean due in 15 or 60 days, respectively, etc), but sometimes invoices simply say "NET" with no number.The purpose of this is to shorten accounts receivable cycles for those who provide credit terms.