What is the difference between notes payable and trade payable?

The difference between trades payable and notes payable is based on the relationship with the business to which money is owed to.

Trades payable is typically with a business' supplier while notes payable is usually with a bank. Their treatment in the cashflow statements also differs.

With trades payable, the transaction is reported in the CFO (Cash flow from Operations) while notes payable under US GAAP is reported under CFF (Cash flow from financing).