What you know about invoice and account payable

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Invoices are bills for goods or services provided, while accounts payable are the amounts owed to vendors or suppliers.

Invoices are issued by the seller to the buyer as a request for payment.
Accounts payable are the outstanding balances owed to vendors or suppliers for goods or services received.
Invoice and account payable processing involves verifying the accuracy of the invoice, ensuring that the goods or services were received, and making timely payments.
Invoices and accounts payable are important for financial record-keeping and cash flow management.
Examples of accounts payable include rent, utilities, and inventory purchases.

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