Account Payable

Business, Legal & Accounting Glossary

Definition: Account Payable




Full Definition of Account Payable


A debt owed by a business that arises in the normal course of its dealings, that has not been replaced by a note from another debtor, and that is not necessarily due or past due.

Bills for materials received or obligations on an open account may be accounts payable. This kind of liability usually arises from a purchase of merchandise, materials, or supplies.


Cite Term


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Page URL
https://payrollheaven.com/define/account-payable/
Modern Language Association (MLA):
Account Payable. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. October 15, 2021 https://payrollheaven.com/define/account-payable/.
Chicago Manual of Style (CMS):
Account Payable. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/account-payable/ (accessed: October 15, 2021).
American Psychological Association (APA):
Account Payable. PayrollHeaven.com. Retrieved October 15, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/account-payable/

Definition Sources


Definitions for Account Payable are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 8th October, 2021 | 0 Views.