Accounts Receivable
Accounts Payable

by Tarig
(Hurst, Texas, United States)

Q: Accounts Receivable vs. Accounts Payable?

The answer to this short question is to define the two terms and see how they differ.

Accounts Receivable is an account containing all amounts owing to us. It is all the amounts we expect to receive. In other words, our debtors.

Accounts Payable is an account containing all amounts that we owe to others. It is all the amounts we expect to pay in the future. In other words, our creditors.

Hope that make sense Tarig.

Add more questions if you're not still not sure. Also, check out the lessons in the section on Basic Accounting Concepts.

Comments for Accounts Receivable
Accounts Payable

Click here to add your own comments

accounts best answer
by: Nash Campbell

Thank you! This answer is exactly what I was asking.

Click here to add your own comments

Return to Ask a Question About This Lesson!.

Enjoying this Website?
Help Support it with a Donation


Advertise on

privacy policy

Related pages

define cash receiptswhat is revenue minus expenseswhat are debits and creditsinventory reserve journal entrywhat kind of account is prepaid rentexamples of production overheadspurchase returns and allowances debit or creditbank overdraft accountingledger balance sheetcomputing cost of goods manufacturedanother name for owners equityvat formula calculatorjournalizing entries examplesdefine bookeeperweighted average periodic inventory methodhow to determine cogsbasic accounting vocabularywhat is journalizing in accountinghow to remove vat from a figurejournal of accountacyscrap inventory definitiontally entriescalculate markup percentageminus vat calculatorwhat is markup in accountingjournal entry for interest expensefair value journal entriesperpetual inventory record exampleexample of a post closing trial balancewhich of the following is the accounting equationaccounting concepts quizaccounting workbookswhen are period costs counted as inventoryweighted average method of inventory valuation examplerumus variable costhow to calculate markup percentage formularetained earnings debit balancewhat is the definition of accountancyproveit sample testreceivables control accountlink between balance sheet and income statementunder a periodic inventory system closing entries will includedouble entry accounting tutorialage analysis of debtorsmeaning of accrual conceptcommon size income statement and balance sheetdefine accrued expensescash flow statement template indirect methodcompute manufacturing overheadfull form of canara bankoutstanding salary journal entryprocess costing weighted average methodwhat does fifo mean in accountingtrading p&lmerchandise inventory adjusting entryinventory fifo lifowhich of the following statements about lebanon is falseis finished goods a current assettrading & profit & loss account formataccrued expense journaldebtors agingaccounts aptitude questions and answersfoc accountingledger meaning in tamilmeaning of sundries in accountinghow to calculate cash generated from operationstrial balances accountingconsumable inventory definitionfifo method definitionunadjusted trial balance worksheetperiodic fifoindirect cash flow statement templatecash cheque definitioncalculate ending retained earningsadjusting and closing entries examples