Accounts Payable Definition

accounts payable Definition

An accounts payable definition describes an invoice that has not yet been paid. This could be anything from raw materials to phone and electrical bills. An invoice is issued by a supplier and then becomes part of the accounts payable balance. The supplier records this as part of the accounts receivable balance. In other words, accounts payable and accounts receivable …

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Account And Routing Number On Check

Account And Routing Number On Check

The first set of numbers on a check is the routing number. The numbers are nine digits long. The character symbol surrounding the numbers is not part of the routing number. The numbers are public and are often called transit numbers. The actual account number may vary by region. A bank routing code can vary by region. A banking institution …

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Accounts Receivable Definition

Accounts Receivable Definition

An Accounts Receivable Definition explains the term and what it means for a business. This is a legally enforceable claim for payment for goods or services that have been supplied. It typically applies to businesses that have supplied goods to customers, but have not yet received payment for them. The abbreviation AR or A/R stands for accounts receivable. It is …

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