Difference between accrual and accounts payable

Accrual accounting involves recording all business transactions, whether revenue or expenses, regardless of when cash is actually received or paid. Accounts payable, on the other hand, specifically refers to the short-term liabilities a business owes to its trade creditors for goods or services purchased on credit. While both are recorded in account books, accounts payable represents a current debt that may be carried forward to the next accounting period if not settled.