Down payment

Installment payments are made to employees who are paid according to their performance and for whom the payment is only calculated at longer intervals. They receive an advance on their performance, which is referred to as an advance payment. The advance payment is made by most companies for the purpose of simplification and cost savings in payroll accounting. Second, an advance payment is made if the amount to be paid has not yet been precisely determined (e.g. partial payment by the craftsmen according to the progress of the work. The remaining payment is made with the final invoice).

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