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The early payments fell into two categories, Mr. McGee said.
Those early payments will be credited to the developers in the next four years.
That is because, like a home mortgage, a car loan's early payments are mostly interest, not principal.
Issuing interest penalties to these businesses, or even discounts for early payments, will encourage funds to come in on time".
Deposits (whether refundable or non-refundable), early payments and progress payments should not be recognized as revenue until the revenue producing event has occurred.
The rate increases proved more modest, but the early payments leave less money available to invest or spend in coming weeks, he warned.
Similar(28)
There are no early payment fees.
The retailer always prefers early payment to payment around the due date to increase revenues.
The proposed incentive is related to the retailer's early payment time in the first period.
Mostly from delays of expenditure and from early payment of future taxes.
Early payment fees can reach as much as £300,000 in Britain.
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