Accounts Receivable

What is meant by accounts receivable? Accounts receivable come into existence when a business offers products or services to its customers on credit. The amount of money that the customers owe to the company is written as an asset on the balance sheet. This asset represents the money that a customer has to pay to […]

accounts payable

Accounts Payable

What is Accounts Payable and How to Manage Them? When a business purchases a service or a product from a supplier (not paying cash at the time), the payment amounts are recorded into the company’s financial statements and released when the due date states on the invoice (often 30 days later). The record of unpaid […]