Vendor's compensation
In accounting, vendor's compensation means the share of collected sales tax a seller may keep, in states that allow it, for filing and paying on time — usually a small percentage, often capped.
- Layer
- Lexicon
- Defined in
- Lexicon
- Also called
- Timely filing discount
- Nearby
- 4
Not a rule
State sales tax law — not codified in GAAP. US GAAP governs recognition, measurement and presentation — not the mechanics a bookkeeper uses to get there. Anyone citing a standard for this word is citing the wrong thing.
Every citation in this system, with the text we read and the date we checked it, is in US GAAP and where these rules come from.
What it is not called
Each of these is a real word for a different thing. Using it here is what makes a product read as though it was built by someone who has not done the work.
- sales tax refund
- rebate
Nearby in the catalog
No component names this concept outright. These are the ones in its part of the system, which is a weaker claim — but a component nothing links to is a component nobody finds.
Terms this one depends on
Also in Tax
Defined in Lexicon. This page is generated from that document, so the two cannot disagree.