payableˈpeɪ ə bəl
English Definitions:
account payable, payable (adj)
a liability account showing how much is owed for goods and services purchased on credit
"the problem was to match receivables and payables in the same currency"
collectible, collectable, payable (adj)
subject to or requiring payment especially as specified
"a collectible bill"; "a note payable on demand"; "a check payable to John Doe"
payable (Noun)
(plural) Debts owed by a business; liabilities.
payable (Noun)
A thing that may be paid.
payable (Adjective)
That which is to be paid.
payable (Adjective)
Able to be paid.
payable (Adjective)
Of a mine etc.: capable of yielding profit; profitable.
payable
Accounts payable (AP) is money owed by a business to its suppliers shown as a liability on a company's balance sheet. It is distinct from notes payable liabilities, which are debts created by formal legal instrument documents. An accounts payable department's main responsibility is to process and review transactions between the company and its suppliers and to make sure that all outstanding invoices from their suppliers are approved, processed, and paid. Processing an invoice includes recording important data from the invoice and inputting it into the company's financial, or bookkeeping, system. After this is accomplished, the invoices must go through the company's respective business process in order to be paid.
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"payable." Kamus.net. STANDS4 LLC, 2024. Web. 23 Apr. 2024. <https://www.kamus.net/english/payable>.
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