payables
payables
English Definitions:
payables (noun)
money that you currently expect to pay on notes and accounts
payables (Noun)
debts and liabilities owed by a business
payables (Noun)
Plural form of payable.
payables
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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"payables." Kamus.net. STANDS4 LLC, 2024. Web. 29 Mar. 2024. <https://www.kamus.net/english/payables>.
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