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Accounts payable (AP) refer to the obligations incurred by a company during its operations that remain due and must be paid in the short term. As such, AP is listed on the balance sheet as a current liability. Typical payables items include supplier invoices, legal fees, contractor payments, and so on.

The basic four components of the current are goods, services, primary income, and secondary income.

An accounts payable policy is the guidelines that are put into place to ensure that AP processing is completed on time and accurately. Accounts payable policy looks at all aspects of your current AP system and creates a policy around those procedures.

Double-entry bookkeeping Principle: The balance of payments account of a country is constructed on the principle of double-entry bookkeeping. Each transaction is entered on the credit and debit side of the balance sheet. Thus, the total debit and the total credit of the balance of payments are always equal.

Features of Balance of Payments Systematic Record. It is a systematic record of receipts and payments of a country with other countries. Fixed Period of Time. ... Comprehensiveness. ... Double entry System. ... Adjustment of Differences. ... All Items-Government and Non-Government.

By and large, credit cards are easily the most secure and safe payment method to use when you shop online. Credit cards use online security features like encryption and fraud monitoring to keep your accounts and personal information safe.