Accounts Payable

[@nefwaenre]

The leather gloves manufacturing company i interned at had me as an accounts payable assistant. It was incredibly insightful. i'm back revisiting my basics now. Because i intended to study further. Thank you so much.

[@MyFinancialFocus]

Love accounts payable. Best way to manage cash flow is to build trust with a supplier and use the goods to create revenues before paying for the supplies.

[@SportSphere360_]

So normally this discount a customer can deduct at source if payment is within 10 days and record in other income ? Further if not paid in 30 days then can a company also put the additional %age of Interest Receivables additional to the principal's amount. And can we mention just like the discount payable.

[@thanosfotas4396]

what does it meen when payables are showing as negative on the balancesheet?

[@Edspira]

It is possible that it is a contra liability account. For example you could have a discount on bonds payable that would reduce the companion liability account, bonds payable. In general, most liabilities should not have a negative balance.

[@thanosfotas4396]

thank you for your answering, more questions coming soon! Love your channel.

[@francoislangelier7576]

@edspira how would it works with the taxes if ''you are the factory'' and the dealer takes advantage of the 2/10? The invoice shows 8000 +taxes but now, as the factory, you only received 7840 +taxes but your invoice still show 8000+txs. Thank you