What is the difference between notes payable and accounts payable?
submitted by miranda

Jnco

First off, a "note" is a loan. So, your notes payable are all your loans you need to pay off. Accounts payable are other money you owe, like when you buy inventory on a payment plan, rather than paying cash.

Estelcelis

Notes payable are usually long term loan which include payment of principal and interest for a certain period of time. Whereas, accounts payable are the merchandise or supplies that are purchased to be used for the regular operation of business usually paid within short period of time or discounted if paid early based on term of the invoice.

petros degefa

note payble is a liability that must be paid off.
it will be obligated by the law.
it is a written promise.wheras account payble is aliability that will paid of in short period of time.