What distinguishes between accounts payable and notes payable?

Accounts Payable is the amount which company owes to its creditor and no collateral security has deposit against it where as notes payable is the amount which the company owes and some collateral security or any agreement. AP is use for the operational activities where as NP are mostly use for the investing activities.

Accounts payable - Amount that company owes to it creditor

Notes Payable - Amount that is agreed to pay based on the promissory note.

Notes receivable and notes payable called commercial paper a bill of exchange and promissory note

The beneficiary of the bill of exchange and promissory note or company established remain de catch Ptzar securities included in current assets in the balance sheet or budget

Debit notes  are used to debit account of customer or supplier.  if you have received debit note from someone it's mean that it's  debit note payable to you.  to whom you have received this debit note is the person how has debited your account and you are liable to pay it or adjust it. its your liability.

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