Accounts Payable (AP) vs Accounts Receivable (AR): What's the Difference?

Accounts payable (or AP) represents the amount of money a business owes to creditors and suppliers. Accounts receivable (or AR) is the amount of money owed to a company from creditors, such as customers, distributors and partners. AP is recorded as a liability on a company’s balance sheet, while AR is recorded as an asset.

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