fototude
Mar 22, 2011, 12:41 PM
What is the difference between Notes Payable and Account Payable? Just a question.
pready
Mar 24, 2011, 05:48 PM
A note payable is where you sign a note like when you get a bank loan that says what amount you are borrowing, what your interest rate will be, the length of the loan, as well as any other loan termsl.
An account payable is where you purchase something from a business and they give you a certain amount of time to pay for your purchase like 30 days. This is normally used when companies have an account established at another company.