What is the difference between notes payable and accounts payable?

Notes payable are formal written promises to repay borrowed funds, usually with interest and a defined maturity date. Accounts payable are informal obligations to pay suppliers for goods or services received on credit, typically without interest.

Is notes payable a current or long-term liability?

It depends on the repayment terms. Notes payable due within one year are current liabilities, while those with longer repayment periods are classified as long-term liabilities. This entry mirrors the borrower’s liability and appears as notes receivable on the lender’s balance sheet, classified as current or non-current depending on maturity. For financial institutions, these notes are often considered earning assets.

Do notes payable include interest expense?

Yes. Most notes payable accrue interest over time. The borrower records interest expense on the income statement and interest payable on the balance sheet until payment is made.

Can notes payable be converted to equity?

In some cases, yes. Convertible notes allow lenders to exchange debt for equity under specific conditions, such as a future financing round or when a valuation threshold is met.

How does Rho help track loan and note repayments?

Rho centralizes all payment activity, automatically categorizes principal and interest transactions, and syncs them to accounting systems. This gives finance teams real-time visibility into liabilities and supports accurate financial reporting.

Author: Esther Nguyen

Published Date: April 15, 2026

Last Updated: April 17, 2026

Read Time: 5 minutes

Rho Mobile 1.36: Card Management Gets an Upgrade

Team cards and vendor cards are now visible in the Rho mobile app. Check status, review activity, and stay on top of spend – wherever you are.

Author: Esther Nguyen

Published Date: April 15, 2026

Last Updated: April 17, 2026

Read Time: 5 minutes

Rho Mobile keeps getting better. In 1.36, we're expanding what you can do with cards – giving admins and cardholders more visibility into team and vendor cards directly from their phones.

Key takeaways

Full card visibility on mobile. Admins can now view team cards and vendor cards directly in the app.
Spend oversight without a laptop. Check card status and recent activity from anywhere.
Vendor card creation is coming soon – and you can already see it teased in the app.

Team card visibility

Admins can now view team cards directly in the app. Card status, recent activity, spending details – the same information you rely on for day-to-day oversight, now accessible from your phone. No more waiting until you're back at a desk to answer a quick question about a card.

Vendor card visibility

Admins and vendor cardholders can now view vendor cards in the app as well. Monitor recurring spend, check card details, and manage vendor-tied cards without needing to open a browser. Navigate to create a new card and you'll see vendor card creation previewed as coming soon.

UI improvements

This release also includes a number of smaller improvements: tooltips that are easier to tap, card details hidden for locked cards, a refreshed home screen for non-admin users, and fixes for a $0 balance flicker on the Admin Home screen and a modal freeze in the Pay flow.

Coming soon

We're redesigning the card experience from the ground up.

New action buttons on each card detail page will make it faster to change limits, lock cards, and access additional controls – all in one place. An updated menu will surface expanded options like renaming, sharing, and canceling cards. Visual updates will make it easier to show or hide card details, understand your spend at a glance, and see a clearer breakdown of spent, pending, and available balance.

And vendor card creation from mobile is on the way. Admins and eligible team members will be able to create virtual vendor cards directly from their phones – assigning a cardholder, configuring limits and notifications, and even creating new vendors during setup. No laptop required.

Transactions will also be easier to scan, with merchant logos shown when available.

Update your Rho app to get started.