QB Issue Resolution:

Accounts Receivable (A/R) is money your customers owe you.

Accounts Payable (A/P) is the money you owe to other people.

Resolution for Issue 'WHAT THE EXACT MEANING OF ACCOUNT RECEIVABLE (A/C) AND ACCOUNT PAYABLE (A/P) ?' available: Yes (Solved).
Source: Intuit Community forum.

WHAT THE EXACT MEANING OF ACCOUNT RECEIVABLE (A/C) AND ACCOUNT PAYABLE (A/P) ?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

Support for Accounts Payable
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Error Recovery for Accounts Payable [Canada]
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