Is there any difference between Expenses and Payments

Question Posted / satyaki_raju@yahoo.com

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Is there any difference between Expenses and Payments..

Answer / satyaki_raju@yahoo.com

Mr Shyam your answer lacks clarity.
Expenses and Payments are to be understood as different
entities
Expenses-Money spent or costs incurred which are deductable
from revenue
Payments-These are the amounts that have paid out.They may
relates to purchase of tradable goods,purchase of
assets,clearing of previous dues,loans to staff etc

Is This Answer Correct ?

38 Yes

1 No

Is there any difference between Expenses and Payments..

Answer / shyam

Expenses means it is including that transaction for which no
payment is made means either payment is made or not, it is
not a matter, but payment means only that value which
already paid for some transaction.

Is This Answer Correct ?

15 Yes

7 No

Is there any difference between Expenses and Payments..

Answer / tanvir

Expenses is deducted from revenue. payment is some value
paid agisnt expesnses, liability, advances and fixed assets etc

Is This Answer Correct ?

7 Yes

1 No

Is there any difference between Expenses and Payments..

Answer / satyanarayana.j

Expenses is an expenses. Money can reduce & the word can
use little bit amounts. we should not get any assets,
liability.

Payments:- it means we can get some assets, liabilities
against the payments. we can loss revenue but the same cost
or more asset we should get against payments.

Is This Answer Correct ?

3 Yes

3 No

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