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- accountingbyte
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What is the difference between accounts payable and accounts receivabl
accounts payable vs accounts receivable are crucial parts of a company’s balance sheet. AP represents the money a business owes to its suppliers for goods or services received but not yet paid for. In contrast, AR refers to the money owed to the business by its customers for products or services delivered. While AP is a liability, AR is an asset. Managing both effectively ensures healthy cash flow and accurate financial reporting for businesses of all sizes.
- windows223
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Re: What is the difference between accounts payable and accounts receivabl
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- sazam
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Re: What is the difference between accounts payable and accounts receivabl
sheesh
- Wowi
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Re: What is the difference between accounts payable and accounts receivabl
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- Verherqq
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Re: What is the difference between accounts payable and accounts receivabl
Accounts payable and accounts receivable are basically two sides of the same coin-accounts payable is what your business owes others (like suppliers), and accounts receivable is what others owe you (like customers). So, payables are your outgoing bills, while receivables are incoming payments. And when you're juggling this with cross-border payments, having a good system for foreign transfer can make a world of difference-services like foreign transfer can help keep everything running smoothly.
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