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How does Accounts Receivable differ from Accounts
How does Accounts Receivable differ from Accounts
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accbyte
2 posts
Jan 23, 2025
3:47 AM
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A company's accounts payable (AP) and accounts receivable (AR) are diametrically opposed elements of its financial operations. Money that clients owe the company is referred to as AR. It appears on the balance sheet as current assets. A company's debt to suppliers or creditors for products and services received is represented by AP, on the other hand. The goal of AR management, which is recorded as a current liability, is to make sure that invoices are paid on schedule in order to preserve cash flow. In the meanwhile, AP's management prioritizes on making payments on schedule in order to stay out of trouble and have positive connections with suppliers. Effective management of both is essential to a business's financial stability. This is due to the fact that it guarantees smooth cash inflow and outflow.
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