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What is the difference between Accounts Payable & Bills Payable?

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Question added by yusuf neemuchwala , Accountant , A&S International FZC
Date Posted: 2015/12/30
JANICE DUE
by JANICE DUE , Staff Accountant , Millennium Computer Technology Corporation

Accounts payable refer to the current liability of a business or an organization. That is the unsettled payments in a business or an organization refers to Accounts payable. Bills payable refers to bills settled. In other words the paid and accepted recorded bills in a business or an organization refers to bills payable

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