invoice to payment (AR & AP)

It's sometimes helpful to go back over the basics. Accounts payable (AP) is a big concern for any business that purchases goods and services, pay bills, or manages its credit. However, if you don't know how they work or if they are an asset or a liability, it's a smart idea to look deeper to learn about their impact on your financial reporting and working capital. To answer the question is accounts payable a current liability requires basic knowledge of double-entry (also called…