: money that is owed by a party, and is counted by that party as a debit, even though it has not yet been paid
Money that a company owes to suppliers of goods and services purchased on credit The accounts payable amount is a liability to the company (Compare with accounts receivable )
Money a company owes to suppliers By adding accounts payable, short-term debt and interest on long term-debt together we arrive at a company's current liabilities See Current Assets/Liabilities BACK TO TOP
The amount of money a company owes for goods and services it has received; any outstanding debt that a company has
These are amounts reflected in the balance sheet as owing to the company’s creditors in the balance sheet These appear under current liabilities These amounts owed to the company the short term, usually as a result of sales on credit
An account in the general ledger representing the amount owed by the business to its creditors on open purchases of goods and/or services
Debts of a company for goods or services purchased that must be paid within one year These debts are listed as a current liability on the company's balance sheet
(Ticaret) A current liability; the financial obligation created by the receipt of items and services not yet paid for. Also used to refer to the department that matches vendor invoices to receipts, prioritizes and selects invoices for payment, and performs the check processing/disbursement cycle
Are balances owed to others for goods, supplies, or services purchased on open account Accounts payable arise because of the time lag between the receipt of services or acquisition of title to assets and the payment for them This period of extended credit is usually found in the terms of the sale For example: 2/10, n/30 or 1/10, E O M (End Of Month) and is commonly 30 to 60 days