Payee

A payee is a person or entity that receives or is scheduled to receive a payment. The payment may be in any form, including bills, coins, a check, an electronic transfer, a promissory note, or in kind. The person or entity making the payment is the payer. The reason for the payment is a transfer of value from the payee to the payer, such as the legal right to an asset.

Related Courses

Payables Management