Bill Presentment

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DEFINITION of 'Bill Presentment'

The submission of a bill of exchange for payment. A bill, such as a bank check, is an instrument directs a third party to pay the recipient the fixed sum, while presentment refers to the act of submitting a legal document to another party.

BREAKING DOWN 'Bill Presentment'

Electronic bill presentment and payment (EBPP) is a process that allows bills to be created, processed and paid over the internet. Most large banks will offer these bill payment services and some form of EBPP as a part of their online banking system.

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RELATED FAQS
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    Contra accounts have been used in financial accounting to verify the balance of another corresponding account since Renaissance ... Read Full Answer >>
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    Callable bonds are listed as long-term liabilities on balance sheets, similar to other types of bonds, unless they mature ... Read Full Answer >>
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    The difference between a general ledger and the general journal is that the general journal is considered the initial book ... Read Full Answer >>
  4. How do you calculate credits and debits in the general ledger?

    A general ledger acts as a record of all accounts and their transactions. Balancing the ledger involves subtracting the total ... Read Full Answer >>
  5. Why do businesses calculate accrued expenses?

    Whenever a business recognizes an expense before it is actually paid, it can make an accrual entry in its general ledger. ... Read Full Answer >>
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