Accounts Payable
Accounts payable it is obligation of the firm, money which a firm owes to vendors for purchased of goods and services on credit.this item appear in firm balance sheet under current liability section,represent negative cash flow for the firm when its paid, sometimes accounts payable happen when a firm wants to get a discount by purchased of a good and services paying in tern like, 2/25 and 1/30, and by this, it helps to firm cash flow.
Two Category of Accounts Payable
Accounts Payable Trade - which are attached or related directly to the company's primary operations.
Example: Purchase of raw materials used to production, (Item that related to company operation.)
Accounts Payable Non-Trade - which are not attached or related directly to the company's primary operations. Example: Barrow or transfer material from affiliated, accruals
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- im Jaded..i create this blog to share my little knowledge about what i've been taken from my college life and my greatest frustration in life is to develop my own accounting software..
Hi, you have given really informative post. Thanks for sharing this post to our vision.Fixed Assets Audit | Vendor Reconciliation
ReplyDeleteGood post.Thank you so much for sharing that information.It was very helpful.Keep in blogging. Duplicate Payment Review | Continuous Transaction Monitoring | Duplicate Payment Recovery
ReplyDeleteGreat post. Know the categories of account payable,Information for credit and collection issues, Accounts Receivable Management is the process of ensuring that customers pay their dues on time. Accounts Payable and Receivable are described as current liability and current asset.
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