account payable
Accounts Payable - Meaning, Role, Process, Liability
Accounts payable is the money owed to vendors and suppliers that results in cash outflow Meanwhile, accounts receivable is the money you receive from selling
Key Learning Points · Accounts payable is a current liability which represents amounts owed to suppliers for goods and services where an invoice The accounts payable process is the invoice cycle from procurement to payment Learn how to overcome the biggest productivity killers in the AP process
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