Accounts payable occurred when a company procured some goods or raw materials from a seller on credit. So, on credit means the company opts for late payment within a stated duration. When a company purchases products on credit, the accountant makes the entry of the same amount as a credit on accounts payable ledger. And here the seller has to keep these sales under accounts receivable ledger in the balance sheet. Not only companies but people also purchase services & goods on credit. For example, we are using cable services, water, house, electricity etc. and paying the bill on next month. Let's take an example: A shopkeeper purchased products from a regular wholesaler and he paid half of the amount and other half payment in credit. So, the rest amount will put as accounts payable in the balance sheet.
I am looking for a simple accounting app ,my business has only under around 30 transections per day
Bonus if it can be exported in excel /sheets.
As you are looking for a simple accounting app, then, I advise you to have a look at BTHAWK - Complete Accounting Solution. I am using it for the last 10 months for every task related to accounting, starting from generating invoices in real-time till preparation of financial statements like Trading, P&L, Balance sheet, etc. BTHAWK also help me in filing GST and income tax returns online from time to time.
I felt bad as your helper left suddenly. But don't worry, we have the solutions. Try out some bookkeeping Softwares available in the market who is a perfect replacement for an accountant. But, at the same time, it's very difficult to find the finest bookkeeping software.
I found BTHAWK as one of the finest GST billing Software and Complete Accounting solutions for every type of business. I am using it for the last 10 months for my bookkeeping activity. It's very beneficial to me.
I am using one of the bestGST Billing Software named BTHAWK. It helps me everywhere, starting from generating invoices in real-time till filing GST returns online from time to time. BTHAWK is very much beneficial for my running business and happy to say this.... BTHAWK is actually a Complete Accounting Solution!
BThawk provides the best GST billing software in India. In Which you can file your income tax, GST return online with the dedicated tax expert support.