Payment: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Add link.) |
imported>Doug Williamson (Add link.) |
||
| Line 19: | Line 19: | ||
* [[Pay]] | * [[Pay]] | ||
*[[Payment infrastructure]] | *[[Payment infrastructure]] | ||
* [[Payment rail]] | |||
* [[PSOR]] | * [[PSOR]] | ||
* [[Receipt]] | * [[Receipt]] | ||
Latest revision as of 11:58, 16 February 2023
An amount of money paid.
1.
Defined broadly, payment refers to the payor’s transfer of a monetary claim on a party acceptable to the payee. Typically, claims take the form of banknotes or deposit balances held at a financial institution or at a central bank.
2.
The term is also defined more strictly for certain accounting and tax purposes, where the exact timing of payments - for example either within or outside of a given tax calculation period - may be essential for the determination of tax liabilities and tax reliefs.
