accounts payable


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Related to accounts payable: general ledger, accounts receivable

Accounts payable

Money owed to suppliers.

Accounts Payable

1. Money owed for a good or service purchased on credit. Accounts payable are a current liability for a company and are expected to be paid within a short amount of time, often 10, 30, or 90 days.

2. A unit within a company's accounting department that deals with accounts payable, managing credit lines, purchase orders, and audit reports.

accounts payable

Money a business owes to others. Accounts payable are current liabilities incurred in the normal course of business as a firm purchases goods or services with the understanding that payment is due at a later date. If a firm pays cash for all of its purchases, no accounts payable will appear on that firm's balance sheet.

accounts payable

see CREDITORS.
References in periodicals archive ?
The solution includes support for all expense process features, including manager approval, accounts payable review, re-submission, short pay, rejection and audit.
which sells a product that automates the entire accounts payable function, says the average implementation time ranges between six to 12 weeks, depending on the size of company and the number of vendors it typically deals with.
Because we manage cash centrally but have decentralized accounts payable and payroll at the plant level, we have an unusually high number of cash accounting transactions.

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