Accounts payable represent the tracking of all transactions for a business. Usually showing the money that is owed. Sometimes a business doesn’t pay for items or services upfront. This will result in the company receiving an invoice. For the accounts payable to be recorded, the bookkeeper will credit the accounts payable when an invoice is received and debits it when the invoice is paid. Accounts payable are considered a short-term debt and must be paid within a certain amount of time to avoid default.
Xpert Bookkeeping offers services for accounts payable. We would love to get all your transactions recorded. Contact us so we can get started!