Accounts Payable
An accounts payable clerk is a position where one works in a specific division of an accounting department. An accounts payable clerk is the one that is responsible for making payments on behalf of the company one works for in order for payments to be made on time.
Accounts Payable clerk
Weighted Average Accounts payable = Opening period accounts payable + closing period accounts payable divided by 2 Example: Opening Accounts payable = 10000 Closing accounts payable = 20000 Average = 30000/2 = 15000
Accounts receivable is the term for amounts due, while accounts payable are owed.While this is the "opposite" of accounts payable, it is NOT an antonym.
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When an item is purchased on credit accounts payable increases. For example if you purchase something for $250 on credit this is the entry to increase accounts payable. Purchases 250 Accounts Payable 250 When you pay for your purchases it will decrease accounts payable. Accounts Payable 250 Cash 250
Accounts Payable is a liability. Accounts receivable is an asset.
Accounts receivable and accounts payable are usually the two departments associated with this. The tax department probably oversees accounting in all aspects.
Yes Accounts payable is a variable cost.
[Debit] Accounts payable [Credit] Cash / bank
debit accounts payable 250credit notes payable 250