1. The definition and accounting content are different. A bill payable refers to a bill issued by the drawer and entrusted by the payer to unconditionally pay a specific amount to the payee or holder on a specified date. Divided into interest-bearing notes payable and interest-free notes payable. Accounts payable refers to the accounts paid by enterprises to suppliers for purchasing materials, materials and accepting labor services.

2. The payment time is different. A bill payable is a bill that promises to be paid at some time in the future; There is no exact time limit for accounts payable.

3. Different contacts. Notes payable are transactions with banks and third parties; Accounts payable are current payments between enterprises.

4. Different settlement sources. Notes payable are settled through credit contracts; Accounts payable are based on sales contracts.

I. Accounting Methods of Notes Payable

Notes payable refers to a written certificate issued by an enterprise that promises to pay a certain amount to the holder in a short time. In our country, notes payable are commercial bills with legal effect, which are used to calculate the settlement of commercial bills in the purchase and sale of goods and clarify the relationship between creditor's rights and debts. Commercial bills can be divided into bank acceptance bills and commercial acceptance bills according to different acceptors; Commercial bills can be divided into interest-bearing bills payable and interest-free bills payable according to whether they bear interest or not. Generally, the acceptance period of a commercial bill is not more than 6 months. Whether it is interest-bearing bills or interest-free bills, bills payable are generally priced at face value in accounting.

Second, the composition of accounts payable

Like accounts receivable, accounts payable is divided into four modules:

1. Invoice management. After entering an invoice, you can verify the receipt status of the materials listed in the invoice, check the purchase order materials, calculate the difference between the purchase order and the invoice, view the receipt status of all purchase orders of the specified invoice, and list the check payment status of the specified invoice and all invoices and invoice adjustments of the specified supplier.

2. Supplier management, which provides supplier information for each provided material. Such as currency, payment terms, payment method, payment bank, credit status, contact person, address, etc. In addition, there are various transaction information.

3. Check management, which can handle multiple payment banks and multiple payment methods, verify and renumber checks, check checks issued by banks, query checks issued by designated banks, void checks and print checks.

4. Aging analysis: you can calculate the aging according to the specified overdue days and future days, or list the payable balance according to the aging.

legal ground

People's Republic of China (PRC) Civil Code

Article 188 The limitation period of ordinary litigation and the longest period of rights protection shall be three years. Where there are other provisions in the law, such provisions shall prevail.

The limitation period of action shall be counted from the day when the obligee knows or should know that the right has been damaged and the obligor knows it. Where there are other provisions in the law, such provisions shall prevail. However, if more than 20 years have passed since the right was damaged, the people's court will not protect it. Under special circumstances, the people's court may decide to extend it according to the application of the obligee.