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Whats the difference between Accounts Receivable and Accounts Payable?

April 26, 2017accounts Accounts receivable difference Payable

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Whats the difference between Accounts Receivable and Accounts Payable?

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Accounts Receivable or A/R is the money you are owed from customers before you get it. Any invoices you have sent that haven’t been paid are Accounts Receivable. Accounts Payable or A/P is the opposite. It’s money that you owe to others for things you have bought but not yet paid for.