PAYABLES TURNOVER Definition

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PAYABLES TURNOVER is calculated: Payables Turnover = Purchases / Payables.

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SUBLEDGER is for the purpose of organizing revenue and expense transaction for only one account, e.g., For an individual salesperson, like a general ledger, the subledger has different default account types, each from a salespersons perspective, not a company perspective. Thus, Due is due to the salesperson and Payable is payable by the salesperson.

CONSTRUCTIVE FRAUD is an act, statement, or omission which operates as a fraud, although perhaps it was not intended to be such.

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