payee

Examples of payee in the following topics:

• Components of a Note

  • Payee-the payee is the party that holds the note and receives payment from the maker when the note is due.
  • The payee classifies the note as a note receivable.

• Notes Payable

  • A promissory note is a negotiable instrument, where one party (the maker or issuer) makes, under specific terms, an unconditional promise in writing to pay a determined sum of money to the other (the payee), either at a fixed or determinable future time or on demand by the payee.

• Managing Float

  • Once the recipient, or payee, deposits the check in the corresponding account, the bank immediately credits (increases) the payee's account, assuming that the payer's bank will ultimately send the funds to cover the check.
  • Until the payer's bank actually sends the funds, both the payer and the payee have the same money in their accounts.

• Long-Term vs. Short-Term Financing

  • This is a negotiable instrument, wherein one party (the maker or issuer) makes an unconditional promise in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms.

• Corporate and Payroll Taxes

  • Deductions from an employee's wages are taxes that employers are required to withhold from employees' wages, also known as withholding tax, pay-as-you-earn tax (PAYE), or pay-as-you-go tax (PAYG).