Iâm whatâs known as the best of both worlds â a purrfect combination of two very popular cat breeds, the Persian and the Siamese. And thatâs both for my looks and my personality, which strikes the ideal balance between the Persianâs gentle nature and the Siameseâs affectionate playfulness.
SAP Accounts payable accounting is also called as sub-ledger accounting, as the business transactions are carried out individually in the vendor accounts. All the transactions that are processed in accounts payable are recorded directly in the general ledger account.
When an account payable is paid, Accounts Payable will be debited and Cash will be credited. Therefore, the credit balance in Accounts Payable should be equal to the amount of vendor invoices that have been recorded but have not yet been paid. Under the accrual method of accounting, the company receiving goods or services on credit must report the liability no later than the date they were received.