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This guide explores everything you need to know about accounts payable, including its definition, core processes, examples, job roles, and automation tools. When goods or services are purchased on credit, the purchases account will need to be debited and the respective creditor\u2019s account will be credited. For instance, 2\/10 net 30 is the trade credit that your suppliers offer for the sale of goods or services, meaning you’ll receive a discount of 2% if you pay the amount due within 10 days. As a result, there will be no need for you to manually enter or upload all your invoices, and your purchase and payment process would also get automated.<\/p>\n<\/p>\n