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What is Accounts Payable?

What is Accounts Payable?

In simple terms, the amount that you owe as an individual or a company to others for delivered goods or completed services is called Accounts Payable and it is also called ‘payables’. A company owes its suppliers or vendors from where it purchases its inventory and...
What are accounts receivable?

What are accounts receivable?

To be simple and direct, Accounts receivable is the money that is owed to a company by its customers or clients against goods or services provided. It also can be explained as the outstanding invoices a company possesses. The debtors can be individual customers or a...