Business, economics: balance of trade vs balance of payments

Self-tutoring about economics and business: the tutor looks at the difference between balance of trade and balance of payments.

The following is my understanding of balance of trade and balance of payments:

Balance of trade is contained in balance of payments. Balance of trade is the net of a country’s exports and imports: positive means the exports outvalue the imports. Balance of payments is the net of all money flowing in and out of the country, including investment and receipts as well as trade.

Source:

investopedia.com