What is the difference between Accounts Payables And Creditors?

Answer 1

Actually, there is hardly any difference. In British text books, what the Americans call Accounts Payable are called Trade Creditors, just as Accounts Receivable to the Americans are Trade Debtors to the British. AP are creditors, people whom you've bought goods and services from on credit, and to whom you owe money.

Answer 2

Trade Creditors Accounts Payable

Answer 3

The difference between an accounts payable and creditor is some that is a bank. In business you have accounts to businesses. This way you can get paid for the job and then pay for supplies. This would be like using ummmmm a food company to supply you with items to make you dinners to sell. Then in about 14-30days you pay them. This way you have time to make the money back.
Now with a creditor you have a set limit and an interest rate that you much pay to them for lending you the money. Another business would not charge you an interest rate for the goods you bought. A creditor would also be a bank that would have a guidelines to follow by the federal government.

I hope this helps. If you want to know more e-mail me.

Answer 4

Acoounts Payable are goods and services purchased on account. Creditors are collecters of usually cash loans or lines of credit.

Answer 5

accounts payable is the sub category of credtors

Answer 6

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