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A trade payable is another term referred to as an account payable. Most companies have an Accounts Payable department responsible for making sure money is paid to other parties that the company received a service from.

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Q: What is trade payable?
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Related questions

Is an electricity account an example of a trade account payable?

No Electricity account is non-trade accounts payable as trade accounts payable are those suppliers only from which company purchase supplies for sale purpose.


What is accounts payable non trade?

Accounts payable non-trade is an entry that is made through a journal entry. Most accounts payable are trade and they are done through an accounts module that will automatically generate accounting entries.


Where does Trade accounts payable go balance sheet or income statement?

Trade payables, or accounts payable, are categorised under Current Liabilities in the balance sheet.


Is trade accounts payable a current liability?

Yes its a current liablity


What is assets trade?

Net Trading Assets = Accounts Recievable + Inventory - Accounts Payable


What is the difference between notes payable and trade payable?

The difference between trades payable and notes payable is based on the relationship with the business to which money is owed to. Trades payable is typically with a business' supplier while notes payable is usually with a bank. Their treatment in the cashflow statements also differs. With trades payable, the transaction is reported in the CFO (Cash flow from Operations) while notes payable under US GAAP is reported under CFF (Cash flow from financing).


Where should i put carriage inwards in Trade payable control account?

trading account expenses


How do you calculate the net trade cycle?

Calculated as follows: Average collection period+ Days inventory held- Days payable outstanding= net trade cycle


How do you record journal entry to purchase goods with trade discount?

debit goods purchased (at trade discount amount)credit cash / bank / accounts payable


What is a trade accounts payable?

It is the liability on an open account for the purchase of a commodity or service used in the regular course of business.


WHAT IS etd payable?

ETD payable = Employer Tax Deductions Payable


Difference between account payable and bills payable?

Accounts Payable releted to Creditors and Bills payable releted to bank.