difference between accrued and payable?

Answer 1

Accrued: you put it on your books as a debt because you know you're going to have to pay it in the future. You don't have the invoice yet, but you know you will definitely owe the money.

Payable: you just got the bill

I think. Accountancy is horrible.

Answer 2

Essentially accrued liabilities and payables are the same thing. You owe the money. However, as a general rule, payables are invoices you owe at any given time...and accrued liabilities are items you owe for...but have not yet received an invoice for. For example, a statement received in your office from your answering service for $ 120.00 is a payable. However, if you haven't received your statement from them at year end...and you receive it instead on Jan 10 and the statement covers the period Dec 10 through Jan 10...then $ 80 of this statement was accumulated between Dec 10 and Dec 31...and can be considered to be an accrued liability at 12/31.

Answer 3

Accrued is matching a charge in the time period incurred. After it has accrued, it becomes payable.

Answer 4

when u buy goods