Accounts Payable Definition, Fornula & Examples

account payable  The accounts payable process has more moving parts than many accounting and finance 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

The accounts payable process: A 5-step guide for small businesses · Step 1 Create your chart of accounts · Step 2 Assign vendor details · Step Accounts Payable are considered a liability, which means they are typically recorded as a debit on a company's balance sheet However, the

A company's accounts payable ledger lists its short-term liabilities — obligations for items purchased from suppliers, for example, and To determine accounts payable days, add up all of your purchases from suppliers over the measurement period and divide by the average number of accounts payable