Accounts Receivable
vs.
Accounts Payable

by Tarig
(Hurst, Texas, United States)


Q: Accounts Receivable vs. Accounts Payable?


A:
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
vs.
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

OR...





Advertise on ventoup.ru

privacy policy




Related pages


cogs in accountingcompute cost of goods manufacturedexample of common size income statementcalculate mark up percentagecommon size income statement exampledebtors control account formatdebtor vs creditorcreditors collection period formulaaccrued accounts payable definitionaccruals entriesperpetual and periodic inventory systemgeneral ledgers for dummiescounterfoilscogs equationcontra accounts receivablehow to calculate costs of goods manufacturedbest book for accountingexamples of accrued expensewhat does accrued income meanhow to calculate the cost of goods manufacturedaccounting ledger samplebank overdraft accountingsales ledger debit or creditcalculating gross profit ratioovercast meaning in accountingcomputing cost of goods manufacturedcash flow diagram excelformat of sales ledger control accountmeaning of liability in hindibank cash book formatexcel test for beginnersbad debt expense on balance sheetcredit and debits in accountingbookkeeping questions and answers testformula for calculating gpreceivables agingsimple bookkeeping formswhat are credits and debitscash flow statement format excelbooks for accounting studentsperiodic vs perpetual inventorytrial balance for dummiesaccrued expencebeginning stockholders equity formulaowns meaning in hindihow to make income statement from trial balancewhat is revenue expenditureswhat are the steps in the accounting cycleclosing stock meaningaccounting cycle example problemsstatement of cash flows indirect method templatecost of goods sold lifofifo companyaccrued salaries definitionincome expense statement templatedouble entry for debit notewhat does cogs meanrumus gross profit margincreditors reconciliation statement formatweighted average share price calculationwhat is the meaning of accrual in accountingcreditors reconciliation statement formatshare capital journal entriesdifference between debtors and creditorsexamples of sundry expensesstatement of cash flow direct methodwhat is accounts receivable agingjournal entries sumselectricity expense journal entryindirect method of cash flow statementdebtors accounts receivableperpetual and periodic inventory systems examplesdefinition of cogst accounts journal entriesindian accounting basics