Definition: End of month, often abbreviated EOM, is an attribute used in many business credit terms to describe the due date and time payment is required. Many suppliers and vendors give manufacturers and retailers a cash discount for paying invoices early and in cash.
What does at the end of the month means?
At the end of the month means in the final days of the month, so it is much more restrictive. In other words, by means before a limit, and at means a particular time. Thanks thats what I intended to.
What does EOM mean in payment terms?
30 end of the month Net 30 end of the month (EOM) means that the payment is due 30 days after the end of the month in which you sent the invoice. For example, if you and your client agree to net 30 EOM and you invoice them on May 11th, that payment will be due on June 30th—in other words, 30 days after May 31st.
Which is correct month end or month end?
Month end is not a compound noun. Its two words without a proper grammatical connection. When you say month end really you should be saying months end, or end of the month. So if you need a plural to talk about the ends of multiple months, you would say ends of the month or months ends.
What is the meaning of a 1/15 N 30?
A company shows the payment and discount terms in the following format on its invoice: 1/15, n/30, according to Accounting Coach. These example terms mean the company offers a 1 percent discount on the outstanding invoice balance if the customer pays within 15 days.