At first glance, accounts payable and accounts receivable might seem similar. But it’s important not to confuse these two ...

accounts receivable (like the revenue in our example above), and accounts payable. All accounts payable are actually a type of accrual, but not all accruals are accounts payable. Accounts payable ...

so you’ll track the bill under your accounts payable section. The vendor, however, will record the transaction in its accounts receivable column. Accounts receivable and accounts payable are two sides ...