Accounts Payable Definition, Fornula & Examples

account payable  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 examples · Raw material purchases · Transportation and logistics · Assembling and subcontracting works · Travel expenses · Equipment · Leasing

Accounts payable is an accounting term that refers to the liabilities your business owes suppliers and vendors All debts and bills other than According to Generally Accepted Accounting Principles , accounts payable are supposed to be current liabilities, liabilities that you

The accounts payable department is responsible for accurately tracking what's owed to suppliers, ensuring payments are properly approved and Accounts payable is a current liability account that keeps track of money that you owe to any third party The third parties can be banks, companies, or even