Instead of keeping all the balances under a single account, it enables them to manage their accounts payable balances more efficiently. Accounts payable are a type of liability, meaning they are a debt your company owes. However, accounts payable can also be considered a debit, depending on how you structure your chart of accounts. A debit balance in a payable account means that the company owes money, while a credit balance indicates that the company is owed money. Accounts receivable

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