Accounts Payable

What is the difference between accounts payable and accounts receivable?

Accounts payable are the amounts a nonprofit owes to vendors, while accounts receivable are funds owed to the nonprofit by others.

Why should nonprofits track accounts payable?

Tracking AP ensures timely payments, compliance with budgets, accurate financial statements, and maintains good vendor relationships.

How does Aplos help manage accounts payable?

Aplos allows nonprofits to log, categorize, and set reminders for bills, helping ensure all payables are managed efficiently and transparently.

Are accounts payable considered liabilities?

Yes, accounts payable are recorded as current liabilities on a nonprofit's statement of financial position.