September 19, 2008, Newsletter Issue #97: Accounts Payable Job

Tip of the Week

Accounts payable are defined as the transactions arising from a company purchasing goods or services on account. The goods and services are purchased based on a promise for future payment. This purchase on account creates a liability known as an account payable. An accounts payable is considered a current liability on the balance sheet and/or financial statements. It is considered a current liability due to its quickness in being converted into cash. An accounts payable normally has a credit balance.

About LifeTips

Now one of the top on-line publishers in the world, LifeTips offers tips to millions of monthly visitors. Our mission mission is to make your life smarter, better, faster and wiser. Expert writers earn dough for what they know. And exclusive sponsors in each niche topic help us make-it-all happen.

Not finding the advice and tips you need on this Accounting Jobs Tip Site? Request a Tip Now!


Guru Spotlight
Tammi Reynolds