Accounts Payable vs. Accounts Receivable: What’s The Difference?
Counto
FEBRUARY 3, 2024
When your business receives an invoice from a vendor or supplier, the items listed in that invoice are recorded as liabilities in your financial ledger. net-30 or net-90), the outstanding payment remains in accounts payable. Notably, accounts payable do not cover employee payroll or long-term debts like mortgages.
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