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What is the difference between account payable and bills payable?

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Question added by Ravinder Ch
Date Posted: 2015/11/04
Kripesh Krishnan Kutty Nair
by Kripesh Krishnan Kutty Nair , Merchandiser , Al Seer Group

Bills Payable is a liability arising from bill of exchange

Account Payable is the total of Bills Payable and Sundry Creditors.

Accounts Payable- Liability for company. Which will be paid in future.

Bills Payable - Settled bills. All ready paid.

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