What is Accounts Payable (A/P)?

Accounts Payable is the money that is owed to a company’s creditors. An example would be when a company buys goods from a supplier on open terms. That company owes the supplier payment for these goods. Accounts payable represents the money that is owed to the supplier and is a Current Liability on the Balance Sheet.

Audio Definition/Pronunciation

OTHER TERMS BEGINNING WITH "A"