Definition
accounts receivable (accounting term): the money that is owed to you or your business
accounts payable (accounting term): the money that you or your business owe to others
- "Accounts Receivable are letters from people who owe us money – they might include checks, or requests to have payments deferred."
- "Icarus : Eh... Accounts Payable."
- "But what is the difference between Accounts Receivable and Accounts Payable?"
- ""Accounts Receivable" on the left, and "Accounts Payable" on the right, but now they're all mixed together."
- ""Accounts Receivable" on the left, and "Accounts Payable" on the right, but now they're all mixed together."
- "Accounts Payable will be letters from people asking for money – typically these will include invoices we need to pay."
- "But what is the difference between Accounts Receivable and Accounts Payable?"
- "Icarus : Accounts Receivable!"
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