encontro de contas

English translation: offsetting of accounts

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Portuguese term or phrase:encontro de contas
English translation:offsetting of accounts
Entered by: Jeanne Zang

21:25 Jan 17, 2002
Portuguese to English translations [PRO]
Bus/Financial
Portuguese term or phrase: encontro de contas
Does this mean the consolidation of accounts?
"Proceder-se-á a um encontro de contas entre ABC e suas controladas com a eliminação de todos os débitos e créditos entre elas,..."
Jeanne Zang
United States
Local time: 08:21
offsetting of accounts
Explanation:
as explained for your other question, you compare payables and receivables and net them out whereever possible so as not to generate any funds flows.
Selected response from:

Marian Greenfield
Local time: 08:21
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
5offsetting of accounts
Marian Greenfield
3settlement of accounts?
Lia Fail (X)


  

Answers


16 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
settlement of accounts?


Explanation:
I can't be sure but if all the debits and credits are eliminated in an 'encontro' between X and Y then it seems like they have settled their accounts, adding up what each owes the other and setting the balances against each other

Lia Fail (X)
Spain
Local time: 14:21
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 164
Login to enter a peer comment (or grade)

44 mins   confidence: Answerer confidence 5/5
offsetting of accounts


Explanation:
as explained for your other question, you compare payables and receivables and net them out whereever possible so as not to generate any funds flows.

Marian Greenfield
Local time: 08:21
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1930
Login to enter a peer comment (or grade)



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