What is The Difference Between Rent Receivable And Rent Payable

 

Rent Receivable is the amount of rent receivable to owner or landlord against the rent facilities rendered to tenant for the accounting period. It is a current asset for the business and recorded on the balance sheet on assets side (left side) under current assets section. It is an asset for the company providing rent facilities.

Rent Payable or Outstanding Rent or Accrued Rent is a current liability payable by tenant to landlord or owner of the property against the services rendered to him for the period. It is also recorded on the balance sheet but as a current liability on liabilities & equity side or right side. It is a liability for the company's business receiving rent facilities.