The Debit balance recovery is usually made by raising a credit memo for the regular vendors. However if there are no future transactions from the supplier, we ask the vendor to send the check / make an EFT for the amount due from him.
When payment is made to the wrong vendor or payment made in excess, in that case overpayment has gone to the vendor, So for us it is vendor debit balance.
For debit balance recovery, we can either follow-up with the vendor to send us the excess amount / refund back, or we can adjust that extra amount in future invoices submitted by that vendor
In Case no future transactions, we have to follow-up with the vendor, falling whicch we have to write off this amount.
There is no specific abbreviation for the term WIRE because when the payment is being made using this option, you will not see the physical movement of funds. It is all electronic. It is just like a current passes through Wire.
Therefore Electronic movement of funds is campared with WIRE.
Software Technology Parks of India (STPI).Some of the software service providers will get exemption from STPI for their software exports. In accounts payable may be we need to define the vendor STPI location wise.
In India we have different STPI location. If one vendor supplying services or materials to all OR some of the STPI locations we need to maintain the same vendor STPI wise.
The terms Billable and Non-Billable expenses are normally associated with say a consultancy company where they bill consultants out to their clients. Therefore Billable expenses will be paid by the client whereas Non-billable will be paid by your employer. What's included in both is subject to the contract your company has with their client.