Tips to Manage Your Accounts Payables and Receivables

Managing accounts payable and receivable is critical for every firm. Keeping track of what you owe your supplier, what you’ve sold, and what your customer owes you would be beneficial. This is especially true in a huge corporation that handles hundreds of daily transactions.
Accounts Payable (what you owe) and Accounts Receivable (what you’re owed) are in charge of keeping track of money coming in and moving out of your company. This article, ‘How to Manage Accounts Payable and Accounts Receivable,’ will walk you through the fundamentals of AR and AP, including what they are, why they are important, and some tips for managing AP and AR.