What is the opposite of "upfront payment"? Something that would signify a payment done after the service has been used.
2
-
Even without including the word define, the first result return by googling "upfront payment" says "Upfront payment" is prepayment -- money you pay before you get the goods or service. In accounting, upfront payments are "unearned fees" and must be entered as liabilities on the balance sheet. Voting to close for lack of prior research.– FumbleFingersDec 29, 2017 at 14:25
-
1I'm voting to close this question as off-topic because there are multiple alternatives to upfront payment, and no effort to find a solution has been demonstrated.– DavoDec 29, 2017 at 20:54
Add a comment
|
2 Answers
If there is a trust relationship between the customer and service provider, payment can be charged on account, meaning on credit, to be settled at a later date, such as at the end of the month.
If payment doesn't need to be made all at once, especially on large-ticket items like vehicles or properties, then payment can be made in installments over several weeks or months.
Accountants use the term of payment in arrears (as opposed to payment "in advance"), although this also has an alternate interpretation, meaning that the customer hasn't paid the account on time (i.e. the account is in arrears).
-
Do you think the usage of a phrase "on account" will sound fine in the sentence like: "Should I pay upfront or it goes on account?"– EduardDec 29, 2017 at 14:49
-
.... or will x (the service) be on account? would be better. If you want to pay later you could ask may I pay on account (or pay in installments).– StuartLCDec 29, 2017 at 15:41
-
In an informal situation, you could just ask ".. or can I pay you at the end of the week / month?" etc.– StuartLCDec 29, 2017 at 16:12
-
"On account" still sounds a bit off, since I am not a native speaker. But, I will try to get used to it. Thanks!– EduardDec 29, 2017 at 17:51
-
1If you have an existing account with the supplier, you can say bill/charge it to my account.– StuartLCDec 29, 2017 at 17:58
Final Settlement
see 2 below:
- The agreement that ends matters between partners dissolving a partnership.
- The settling of outstanding obligations.
Also "settlement figure" when used in the context of asking for a quotation for the final settlement amount.
e.g.
You can request a Settlement Quote... A Settlement Quote details all outstanding money due in order for you to settle your finance with us – including all credit, fees and interest.
