Ashley works 40 hours a week and is paid a weekly salary for those 40 hours. As a covered, nonexempt employee, Ashley must be paid a minimum weekly salary of $290 in order to meet the statutory minimum wage requirement. The minimum wage does not always have to be paid in monetary terms.
DEFINITION of 'Prepayment'. The satisfaction of a debt or installment payment before its official due date. A prepayment can be for the entire balance or for any upcoming payment that is paid in advance of the date for which the borrower is contractually obligated to pay it.Examples of a prepayment come in the form of rent or early loan repayments.Next Up.EFINITION of 'Prepayment'. The satisfaction of a debt or installment payment before its official due date. A prepayment can be for the entire balance or for any upcoming payment that is paid in advance of the date for which the borrower is contractually obligated to pay it.
A vendor item is created and an invoice is paid, independently of the corresponding goods receipt and the invoice check. Payment of an expense invoice is triggered when the invoice is entered. The posting date of the invoice document is used as the posting date for the prepayment document.ou use prepayment for vendors with whom you have built up good business relations over a longer period of time. This approach benefits both parties: The vendor receives prompt payment after issuing an invoice.