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Payment Terms - Explained
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The video tutorial explains various payment terms commonly found on invoices, such as Payment in Advance (PIA), Net 30, End of Month (EOM), and Cash on Delivery (COD). It covers the conditions and implications of each term, including discounts for early payments and specific deadlines. The tutorial also discusses forward dating, accumulation discounts, partial payment discounts, rebates, and contra, providing a comprehensive understanding of how these terms affect business transactions.
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