👉 The term "outpayment" refers to a payment made by an individual or entity in exchange for goods, services, or other items. In the context of accounting, it is used to describe a payment that is not part of a purchase transaction and is typically made after the sale has been completed. For example, if a customer buys something from a store and pays with cash, this would be an outpayment because it's a separate transaction from the purchase itself. Similarly, if a company sells goods
