Accounts Payable vs Notes Payable: Differences & Examples

account payable  Accounts payable, also referred to as payables or AP, is the money you owe to vendors You increase your accounts payable when a vendor extends While formal qualifications aren't required to become an Accounts Payable Officer, a solid understanding of bookkeeping and accounting is needed Employers may

In journal entry form, an accounts receivable transaction debits Accounts Receivable and credits a revenue account When your customer pays their invoice, Accounts payable , or trade payable, is money owed to others for products or services the company has purchased on credit

Accounts Payable · General Ledger · Petty Cash · Cheque Receivable · Cheque Payment · Bank Adjustment; VAT & Withholding Tax; Sales Force Automation; Approve When a company receives goods or services from its vendors without immediate payment, the amount owed is recorded under accounts payable This liability