what is accounts payable on the trial balance sheet
Balance Sheet Accounts. Balance sheet accounts are the accounts that do not directly impact the income and expense numbers. Asset accounts such as prepaid contracts, cash and accounts receivable are in the asset balance sheet categories. Liability accounts like accounts payable and equity accounts belong to the liability balance sheet category. Proper classifications and understanding what accounts belong on the balance sheet is essential to an accurate trial balance. Trial Balance Start with a trial balance report to review the balances of all of your accounts in one place.