I saw on my supplier invoice with a notation of “ 2/10,n/30 ” . What does this mean?
Some companies offer their customers an incentive to get them to pay their bills faster. This is called a cash discount. See earlier article on the difference between cash discount and trade discount
When the selling company offers a cash discount, the discount will be specified on the invoice usually with a notation that reads like 2/10, n/30 which means ” 2 percent if paid within ten days; otherwise full payment expected in 30 days”
The selling company can adjusts the notation to reflect the terms it is offering like for example: