What is the Difference Between Accounts Receivable and Accounts Payable?

Have you ever been in a situation where you go to call your client’s head office to chase up payment for an overdue invoice but you can’t remember whether to ask for their accounts receivable or accounts payable department? 👉 Kicktstart your accounting journey today. Learn the basics with our highly rated Udemy course: https://bit.ly/3VWIsr4 In this video, we explain the key difference: 💰 Accounts Receivable = money you’re owed 💸 Accounts Payable = money you need to pay Learn how to know which department to contact, and get a clear understanding of these essential business finance terms. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ⚖ DISCLAIMER Information provided in our videos does not constitute financial, taxation, legal, business or other professional advice. If you make a purchase through an affiliate link provided we may receive a commission. We do not accept any responsibility or liability for purchases made through third-party vendors, websites, or services. It is your responsibility to review and understand the terms, conditions, and policies of third parties before making any purchases. Any offers mentioned in our videos are correct at the time of recording and may not be available forever. While some of our videos are sponsored, all information and opinions are our own and are unbiased.