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A payable is a liability or debt that has to be paid by the buyer to the seller on the terms that they have agreed upon while an expense is the payment by an individual or a business entity to another in exchange for goods and services.On the other hand, accrued expenses are the total liability that is payable for goods and services that have been consumed by the company or received.
Accounts payable are those liabilities recorded in the accounts to be paid in the future, accrued expenses are the expenses to be accrued every specific period monthly, quarterly examples rent, salaries, insurance,...,etc.
Accounts Payable is outstanding payments to creditor on account of various purchases made on credit in line with main stream/product of business for which Invoice has been received (Eg Raw material, services) and accounted whereas accrued expense payable can be any expense which is incurred to facilitate business but not yet paid like interest on loans, taxes.
Both accounts payables and accrued expenses are liabilities. Accounts payable is the total amount of short-term obligations or debt a company has to pay to its creditors for goods or services bought on credit. With accounts payables, the vendor's or supplier's invoices have been received and recorded.
On the other hand, accrued expenses are the total liability that is payable for goods and services that have been consumed by the company or received. However, accrued expenses are those bills in which an invoice or bill has not yet been received. As a result, accrued expenses can sometimes be an estimated amount of what's owed, which is adjusted later to the exact amount, once the invoice has been received.
Conversely, accounts payable should represent the exact amount of the total owed from all of the invoices received.
Accured expense payable means an expense that was recognised in books in month when the goods are received or service is availed irrespective of payment is made or not. this only confirms that a transaction has occured. where as Accounts Payable related to actual amount payable to suppliers / vendors against invoices posted in system.
Accounts Payables are the liabilities for which invoices have been received and recorded in the books but not paid. Whereas Accrued expenses payables are liabilities for which invoices are not received but recorded in the books as outstanding expenses and will be paid once the invoices are received.
ACCOUNTS PAYABLE IS THE TOTAL AMOUNT OF SHORT TERM OBLIGATIONS (DEBTS) A COMPANY PAYS TO ITS CREDITORS WHEREAS ACCRUED EXPENSES IS THE TOTAL LIABILITY PAYABLE FOR GOODS AND SERVICES CONSUMED BY THE FIRM
Accounts payable is the total amount of short-term obligations or debt a company has to pay to its creditors for goods or services bought on credit. ... On the other hand, accrued expenses are the total liability that is payable for goods and services that have been consumed by the company or received.
ACCOUNTS PAYABLES which are also known as payables are those payments a firm made within a specified period of time for goods and services bought on credit. They are usually short term. ACCRUED EXPENSES are payments that a company is mandated to pay in the future for which goods and services have already been delivered but bills or invoices have not been received. It shoould be noted that both are liabilities
the accounts payble is the supplliers or contractors and any liabiliets
the accued expenses amounts apied for the comming perioud like rent
bullding rent office
Accrued expenses are those liabilities that have built up overtime and are due to be paid. Accounts payable, are current liabilities that will be paid in near future
