In large companies,accounts department is very big having number of employees

There are basically 2 main departments

1.AP Process (Accounts Payable Process)

2.AR Process(Accounts Receivable Process)

 

AP Process deals with various expenses and their payments like payment to vendors,salary payment,handling travel reimbursemnts of employees,petty cash reimbusements etc

 

AR Process deals with Sales and Other Revenues.Hence it is mainly concerned with Making Sales and Collection of money from time from debtors


What is AP Process - AP Process (P2P Process)

 

  1. Accounts and Finance
  2. AP and AR Process

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Davneet Singh's photo - Teacher, Computer Engineer, Marketer
Davneet Singh
Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 8 years. He provides courses for Maths and Science at Teachoo. You can check his NCERT Solutions from Class 6 to 12.