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Is accounts payable a difficult job? Accounts payable is a critical function in every finance department. It requires a number of both “soft” and “hard” skills to be truly successful. Many people, even those in other finance roles, are not aware of all the tasks involved in managing a smooth Accounts payable process.What are the roles and responsibilities of accounts payable?
Accounts Payable Roles & Responsibilities Post business transactions, process invoices, verify financial data for use in maintaining accounts payable records Provide other clerical support necessary to pay the obligations of the organizationDoes accounts payable have a normal debit balance?
The normal balance shows debit in the accounts payable when the left side is positive. It means, according to the accounting equation, the assets for that accounts are higher than the sum of shareholders’ equity and liabilities.