What’s Accounts Payable
Accounts payable is a current liability account in which a company records the amounts it owes to suppliers or vendors for goods or services that it received on credit.
What’s Accounts Receivable
Accounts receivable is a current asset account in which a company records the amounts it has a right to collect from customers who received goods or services on credit.
What do we do?
a. Customer invoicing
b. Cash application
c. Collection follow up
d. Customer credit applications
e. High volume e-commerce integration
f. Review and enter vendor bills
g. Negotiate payment terms
h. Accounts receivable and payable reporting
i. Contractor management – W-9 and 1099 preparation
