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 ?
3526 or 'An Act Authorizing the Reversion of Unliquidated Balances of Accounts Payable Outstanding for Two Years or More and Presidential Decree No.
Nvoicepay delivers automated accounts payable solutions to over 400 business clients, providing a simple UI that allows customers to electronically pay all of their suppliers.
As a result, evaluating trends in payables days is the best way to uncover the use of supply chain financing.
The Minister of State for Finance Rana Mohammad Afzal Khan stated amount of circular debt Rs472.68 billion payable to power generators wasn't included in the annual State Bank of Pakistan report of 2016-17.
The appropriate length of such a period should ordinarily depend on an auditor's risk assessment, based on the client's observed pattern of recording payables or making payments and current financial health under prevalent economic conditions.
Rob DeVincent has over 20 years of experience in designing and implementing Accounts Payable automation solutions.
Forward-thinking companies are gaining competitive advantage by managing payables flows for the benefit of their suppliers, not against them.
ADP Tax & Financial Services, part of the Employer Services (ES) division of Automatic Data Processing Inc (NYSE:ADP) and a provider of integrated outsourced payroll, benefits and human resource services, announced on Tuesday (24 January) the availability of an automated accounts payable management solution.
Typical functions that are outsourced can range from payroll to accounts payable to customer service.
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.
Use Tax Accrual-Traditional Invoice: This transaction involves a systems calculation only on payables invoices that do not include sales tax charged by the supplier (includes sales, seller's use, vendor's use, and retailer's use tax).