Atsiskaitymo

Atsiskaitymo is a Lithuanian term that refers to the act and process of settling financial obligations. It can denote paying for goods or services, repaying a debt, or completing a financial transaction. The word is commonly used to describe the closing of a sale or the fulfillment of a payment duty in everyday language.

In finance and banking, atsiskaitymas describes the final step of a transaction: the transfer of money or value between parties and, where applicable, the delivery of financial instruments. The process typically includes confirmation, clearing of transaction data, and the actual transfer of funds through payment systems or banks. Settlement is distinct from clearing: clearing determines who owes what, while settlement is the actual transfer of funds or assets. Risks in settlement can include the possibility that one party fails to deliver, known as settlement risk. Institutions aim for final and irrevocable settlement, often under legal and regulatory frameworks and central bank oversight.

In commerce, atsiskaitymas covers the methods by which customers settle their accounts, such as cash payments, card payments, bank transfers, or electronic wallets. Invoicing terms, payment deadlines, and reminders are often used to organize timely settlement between buyers and sellers.

In accounting and auditing, atsiskaitymo records appear in accounts payable and accounts receivable, helping to ensure that liabilities and receivables are accurately recorded and reconciled. Regulatory context in Lithuania and the European Union promotes reliable, secure, and consumer-protective payment and settlement systems, covering both retail payments and professional financial markets.