Accounts Reconciliation Blog

One of the most challenging subjects in college is finance. Having had to take several accounting subjects as a prerequisite, I learned a thing or two about accounting even though I was a marketing major. The first accounting subject was about journalizing. We learned the basics of debit and credit. The following subjects dealt with the basics such as what is accounts payable, what is accounts receivable?

We had to define what is accounts payable within the first week. Accounts payable is a file or list enumerates the amount that a company owes to suppliers but has not been paid yet. Companies commonly do not pay suppliers immediately. There is a delay between the time the good s are delivered and the time the goods and services are paid. As long as these payments are not done yet then they are still listed under accounts payable.