What is accounts payable and accounts receivable classed as in QF?

Accounting
1

What is accounts payable and accounts receivable classed as in QF please?

2

Hi @EmmaJPL

Do you mean as in what nominal codes are used?

Accounts Receivable - 1100 - Debtors Control Account
Accounts Payable - 2100 - Creditors Control Account

1 Like
3

Thank you for your help.

4

To clarify this Accounts Receivable is - Debtors control account and Accounts Payable is Creditors control account?

5

Correct. Debtors are the people who owe money to you, creditors are the people to whom you owe money.