The Open Payables report is a listing of outstanding invoices. The report may be sorted by vendor and invoice number or by invoice due date. By Vendor/Invoice, you may limit the report to a range of vendors. By Due Date, you may enter a cutoff date or leave the date blank to include all invoices.
monthly reconciliation
You can right off accounts payable by either: -Paying the balance, -Entering a credit memo against the open balance.
It is the liability on an open account for the purchase of a commodity or service used in the regular course of business.
ETD payable = Employer Tax Deductions Payable
Accounts Payable releted to Creditors and Bills payable releted to bank.
monthly reconciliation
You can right off accounts payable by either: -Paying the balance, -Entering a credit memo against the open balance.
It is the liability on an open account for the purchase of a commodity or service used in the regular course of business.
ETD payable = Employer Tax Deductions Payable
Accounts Payable releted to Creditors and Bills payable releted to bank.
An accounts payable is a "Liability" account. Payable being the "key" word, meaning something you have to "Pay" or "Owe". ALL payable accounts are liabilities no matter what they are for. Whether it is a bill payable, mortgage payable, note payable, wages payable, etc, they are all listed as a liability. Rahul
Salaries payable is liability payable in future time period.
debit accounts payable 250credit notes payable 250
acoounting payable
payable is credit
Accounts Payable clerk
Accounts Payable and Notes Payable are liabilities. Accounts receivable - assets All "payable" accounts are "liabilities". This is because a liability is something the company OWES, a payable is the very same thing, hence the term "payable". Though some payable accounts change from being a payable to an expense, they are still liabilities as long as they are "payable", these include: Interest Payable (liability until paid, then reverts to Interest Expense) Salary or Wages Payable(liability until paid, then reverts to salary or wage expense) Payable accounts maintain a "credit" balance, meaning they increase with a Credit and Decrease with a debit. Now the quick answer: Payable = Liability Receivable = Asset