Accounts Payable
Accounts payable are debts owed by your company for goods and services.
Keeping track of what you owe and when it is due will enable you to
establish good credit and hold onto your money as long as possible.
Accounts payable are debts owed by your company for goods and services.
Keeping track of what you owe and when it is due will enable you to
establish good credit and hold onto your money as long as possible.
Business owners with few accounts payable items use accordion file
folders labeled with dates to keep track. Other small firms simply pay
bills twice per month and keep all bills in a "To Pay" folder. Larger
companies use accounts payable paper records organized by creditor.
Regardless of the system you choose, you should retain the following
information about accounts payable: invoice date, invoice number,
invoice amount, terms, date paid, amount paid, balance (if applicable),
and clients names and address.
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