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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)

 

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 12 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.