Account Payable

Business, Legal & Accounting Glossary

Definition: Account Payable


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A debt owed by a business that arises in the normal course of its dealings, that has not been replaced by a note from another debtor, and that is not necessarily due or past due.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


Related Phrases


Account Receivable


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/account-payable/
Modern Language Association (MLA):
Account Payable. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
January 26, 2022 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: January 26, 2022).
American Psychological Association (APA):
Account Payable. PayrollHeaven.com. Retrieved January 26, 2022
, 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.