Regarding A/c Payable and A/c Receivable

Hi Everyone,
I want to know what is a/c Payable and Receivable. What are the areas comes under those two. I think there is no seperate T code for those two. Let me clear please help me
Thanks in advance.
Regards
Ramesh

HI Ramesh,
A/C Payable refers to transactions related with your Vendors. Whenever you oder something from your Vendor an account payable line item is created so that you can make a payment to your Vendor.
A/C Receivable on the other hand is related to your customers. Account receivable line items are created so that you can collect money from your customers.
These areas have been called out separately in SAP under the FI module.
Regards

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