Accounts payable are the parties your business owe money to and should pay within a short period of time or on a regular basis.
When you use business credit card to make business purchases, create a spreadsheet within your accounts payable workbook to record your purchases and your credit card payment.
How to record accounts payable for your online business?
Record purchases in credit and record your credit card monthly payment in debit column of your spreadsheet.
Create a monthly accounts payable sheet in your workbook to record:
The party your business owes.
The amount owed.
The due date
The balance
The payment made.
The date of the payment
The method of payment
The check number or confirmation number for online payment
The video demonstrates how to record accounts payable for your online business.
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