Payables


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Payables

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.

Payable

1. An outstanding debt. A debt that one must pay to a creditor.

2. A current liability. Any debt that a company must pay within a year.

3. Accounts payable. 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.
References in periodicals archive ?
In fact, the implementation of a Trade Payables program can effectively help credit managers to meet all of their credit and financial objectives.
The tax adviser should suggest that Peary contribute his $60,000 of zero-basis accounts receivable from his practice, but, to avoid assignment-of-income issues, the partnership should also assume the payables of Peary's practice.
If a financial instrument obligates one party to deliver cash or other instruments, that party has a liability--a payable in the broadest sense--and the other party has an asset--a receivable.
The Tools Suite provides Sarbanes-Oxley management reports, an accounts payable code of conduct, flowcharts and risk assessment checklists for keeping organizations compliant.
The solution includes support for all expense process features, including manager approval, accounts payable review, re-submission, short pay, rejection and audit.
Emergis e-Invoicing for Payables builds on the company's suite of electronic invoice presentment and payment (EIPP) solutions, eliminating unnecessary costs associated with A/P processes, and providing a platform for more productive collaboration with suppliers, regardless of their level of technological sophistication.