December 25, 2009 
This entry was posted on Friday, December 25th, 2009 at 10:12 am and is filed under Accounting, Accounts Payable, How To. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
When I was in college, I had to take commerce subjects. As part of my major, I had to take several accounting subjects. We had to take classes in journal entries and adjusting entries. Making flowcharts was also part of our classes. We also had to learn to make an accounts receivable and accounts payable flowchart.
An accounts receivable and accounts payable flowchart consists mainly of two columns: the accounts receivables column and the accounts payable column. The accounts receivable is the money which is due to the company. The payments they are due to receive. Accounts payable consists of what the company owes the company’s dues. The flowchart must show the balanced side of both the accounts receivable and the accounts payables.