Account Receivables are the right to claim against the sale of goods made by any business. It is merely concern with the sale of primary business product.
Account Payables are the obligation to pay for the goods purchase with the intention to resale or to use in manufacturing of goods to sell.
Accounts Payable
Accounts Payable is a liability. Accounts receivable is an asset.
When company make sales in credit it creates the accounts receivable while when company purchases on credit it creates the accounts payable so accounts receivable is current asset while accounts payable is current liability.
real accounts
Accounts Receivable = money owed to YOU by another person or companyAccounts Payable = Money YOU OWE to another person or company
Accounts Payable
Accounts Payable is a liability. Accounts receivable is an asset.
When company make sales in credit it creates the accounts receivable while when company purchases on credit it creates the accounts payable so accounts receivable is current asset while accounts payable is current liability.
real accounts
Accounts Receivable = money owed to YOU by another person or companyAccounts Payable = Money YOU OWE to another person or company
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.
account payable
Accounts payable are amounts a company owes because it purchased goods or services on credit from a supplier or vendor. Accounts receivable are amounts a company has a right to collect because it sold goods or services on credit to a customer. Accounts payable are liabilities. Accounts receivable are assets.
It can be either accounts payable or receivable. If you owe someone else - the invoice is for the service you provided, it's a receivable. If the invoice is from someone you owe money to for a services - it's payable.
accounts payable
accounts receivable ledger, accounts payable ledger, notes receivable ledger, notes payable ledger and equipment subsidiary ledger
False, Accounts payable represents the amount payable to creditors rather debtors which is called accounts receivable.