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GeekInterview.com > Interview Questions > Accounting > Accounts Payable
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Question: Difference between account payable and bills payable
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| August 08, 2008 09:54:09 |
#3 |
| Gandhevi |
Member Since: August 2008 Total Comments: 6 |
RE: Difference between account payable and bills payable
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Accounts Payables & Bills Payable looks one and the same but the only difference here is Bill Payables talks about making payment to Vendors whereas Accounts payable deals with internal adjustments to Cost Centre & General Ledger Accounts.
Eg: Salaries Paid.
Bill payable says making payment to Vendor.
Accounts Payable would have its General Ledger account and they would book this amount to the respective expense account. |
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