Account Payable
/ˈækaʊnt ˈpeɪəbl/
Definitions
- (n.) An accounting term denoting amounts a business owes to its suppliers or creditors for goods or services received but not yet paid.
The company's accounts payable increased significantly due to recent purchases on credit.
Forms
- account payable
- accounts payable
Related terms
See also
Commentary
Often used as a key component in balance sheets to reflect short-term financial obligations. Precise identification aids in clear financial reporting and legal clarity in creditor claims.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.