What is a Prepayment? Definition & Example - FreshBooks
https://www.freshbooks.com/en-gb/hub/payments/what-is-a-prepayment
webMar 13, 2024 · As an accounting term, prepayment refers to the settlement of an instalment loan ahead of its official due date. It can also be applied to other types of debts (like credit card debt). This seems like a positive thing, correct? Unfortunately, it isn’t quite as simple as that. Prepayments can lead to positive circumstances, as well as negative ones.
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