Receivables are amounts of money that a business has invoiced to customers. These amounts are due to be paid to your business. Depending on your invoice terms will determine how long they are likely to be receivables for your business.READ MORE
Accounts payable or trade debtors are amounts of money that are owed to suppliers at any given time from your business. Many businesses issue their invoices to customers and provide a certain number of days in which they have to pay the balance of their bill.READ MORE
If a business gets audited by the ATO, they will need to have this evidence in order to justify their GST and tax deduction claims.READ MORE
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