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 ?
SciQuest's (NASDAQ: SQI) easy to use solutions help contract management, procurement, and accounts payable professionals make daily operations efficient through smart automation, and turn the focus on more strategic decisions that impact the bottom line.
In addition, Digital Mailroom seamlessly pushes invoices to SciQuest's Accounts Payable Director for automatic matching, approval and routing of payments.
SciQuest's vision is to take the non-value-add, transactional work out of the accounts payable function and improve the speed and accuracy of the entire invoice settlement process.
The New York Times recently interviewed her on T&E and lets not overlook the long list of organizations that have turned to her for best practice guidance of their accounts payable function and training of their accounts payable staff.
Schaeffer, editorial director Accounts Payable Now & Tomorrow, is author of over a dozen business books including, New Payment World: A Managers Guide to Running an Efficient Payment Process (July 2007; John Wiley & Sons).
The solution includes support for all expense process features, including manager approval, accounts payable review, re-submission, short pay, rejection and audit.
Whilst many have implemented discrete technology tools to streamline the inbound receipt of invoices, few have addressed 'total' invoice automation to drive out costs and optimise Accounts Payable from the bottom-up - centralising and streamlining data entry; automating validation, coding and matching; minimising exception handling workflow; and reducing supplier enquiries etc.
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.
Accounts Payable Software and Recovery Audit Services Provider Signs 11 of the Fortune 100; 22 of the Fortune 500
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.
Top findings conclude outsourcing invoice processing is a leading strategy for improving efficiency within the accounts payable (A/P) process and A/P automation yields compelling cost savings currently enjoyed by only 20% of the marketplace.
The audit, which was performed by Ernst & Young LLP, stands as a third-party independent opinion as to the effectiveness of OPI's internal controls for such outsourced F&A functions as accounts payable, accounts receivable, project accounting, and financial reporting.

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