Accrued Expenses Vs Accounts Payable Top 7 Best Differences
Difference Between Accrued Expenses and Accounts Payable Accrued expenses and accounts payableAccounts PayableAccounts payable is the amount due by a business to its suppliers or vendors for the purchase of products or services. It is categorized as current liabilities on the balance sheet and must be satisfied within an accounting period.read more are two essential terms recorded in the balance sheet of organizations. The critical difference between these terms is that accrued expense is recognized in the accounting books for the period it is incurred, whether cash is paid or not....