Accounts payable definition, examples, and how it works

account payable  Accounts payable, also referred to as payables or AP, is the money you owe to vendors You increase your accounts payable when a vendor extends Accounts payable is a section of a business's accounting department responsible for processing and reconciling vendor invoices for goods and services the

Accounts payable is the money owed to vendors and suppliers that results in cash outflow Meanwhile, accounts receivable is the money you receive from selling Accounts payable are a liability due to a creditor when you order goods or services without paying in cash up front, which means that you buy

Key Learning Points · Accounts payable is a current liability which represents amounts owed to suppliers for goods and services where an invoice Accounts Payable represents a sum of all company's short-term financial obligations to its suppliers in return for provided goods and