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Audit trails should include key information such as what, who, when, where, and how to document each step of a transaction or event. An audit trail is a date and time for a transaction, event, project, or entry. For example, your business may establish a trail for accountspayable remittances from start to finish.
Schedule a Demo Accounts Receivable vs. AccountsPayableAccounts receivable and accountspayable are two important concepts in accounting. Accounts receivable can be the money owed to a company by its customers. In contrast, accountspayable is money that a company owes to its suppliers.
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