Payables are shown on the balance sheet as current liabilities . They are also known as accounts payable. A supplier invoice received by the University is a payable, or debt. An attachment to a payable , or receivable , which identifies the reason for the creation of the document . A message sent to a customer or internal department , either to ensure that a payment has been made, to request clarification of a difference in payments, or to assign a payment.
Payment method Indicates the procedure or form, by which payments are made.
Payment notice See Payment confirmation . A payment that is assigned to an account , but not yet to a business transaction. UofT does not wish to show the payment as a partial payment, so records the payment as a payment on account. The money does not show as a payment against the original invoice. The payment on account shows as a credit for the customer, but it is not applied against the original invoice Payment transactions All the outgoing and incoming payments of an organization.