Accounts Payable vs. Accounts Receivable

Patriot Software

Both accounting entries are part of double-entry bookkeeping, but what is the difference between accounts payable vs. accounts receivable? As a small business owner, setting up your accounting books and maintaining accurate records is essential.

Happy International Accounting Day!

Going Concern

It’s important to note that while Pacioli is often credited with the development of double-entry bookkeeping, he did not invent the method and is instead considered the first person to describe the method already used by Venetian merchants in literature.


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