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The difference between trades payable and notes payable is based on the relationship with the business to which money is owed to.
Trades payable is typically with a business' supplier while notes payable is usually with a bank. Their treatment in the cashflow statements also differs.
With trades payable, the transaction is reported in the CFO (Cash flow from Operations) while notes payable under US GAAP is reported under CFF (Cash flow from financing).
What else can I help you with?
Is an electricity account an example of a trade account payable?
No Electricity account is non-trade accounts payable as trade accounts payable are those suppliers only from which company purchase supplies for sale purpose.
What is accounts payable non trade?
Accounts payable non-trade is an entry that is made through a journal entry. Most accounts payable are trade and they are done through an accounts module that will automatically generate accounting entries.
Where does Trade accounts payable go balance sheet or income statement?
Trade payables, or accounts payable, are categorised under Current Liabilities in the balance sheet.
What is the difference between trade debtors and sundry debtors?
The difference between trade debtors and sundry debtors is trade debtors are specific debts like credit cards. Sundry debtors are a wide variety of debtors that can be from any source.
Is trade accounts payable a current liability?
Yes its a current liablity
Bring out the difference between trade discount and cash dicount?
Cash discount is the discount in amount in accounts payable while trade discount is on sales price discount which is not recorded in business books and transaction is recorded at discount price.
Is an electricity account an example of a trade account payable?
No Electricity account is non-trade accounts payable as trade accounts payable are those suppliers only from which company purchase supplies for sale purpose.
What is trade payable?
A trade payable is another term referred to as an account payable. Most companies have an accounts payable department responsible for making sure money is paid to other parties that the company received a service from.
What is accounts payable non trade?
Accounts payable non-trade is an entry that is made through a journal entry. Most accounts payable are trade and they are done through an accounts module that will automatically generate accounting entries.
What is the difference between Free trade and protection from trade?
the answer is banana
What is the difference between fair trade and unfair trade products?
d
Where does Trade accounts payable go balance sheet or income statement?
Trade payables, or accounts payable, are categorised under Current Liabilities in the balance sheet.
What is the difference between a single trade discount and trade discount series?
What is the difference between a single trade discount and trade discount series? In: http://wiki.answers.com/Q/FAQ/2547-72 [Edit categories]
What is the difference between international trade and external trade?
International trade is trade between two or more countries, while external is a trade in another country.
Difference between international trade and local trade?
International trade is trade between people or businesses in different countries. Local trade is trade between businesses and individuals in the same local area.
Difference between bileteral trade and multilateral trade?
one is multilateral one is bilateral
What is the difference between total imports and exports?
The balance of trade.
