Define: Accounts Payable

UK Accounting Glossary

Definition: Accounts Payable


Quick Summary of Accounts Payable


Amounts due for payment to suppliers of goods or services, also described as trade creditors.



What is the dictionary definition of Accounts Payable?

Dictionary Definition


Accounts payable is money owed by a business to its suppliers shown as a liability on a company’s balance sheet.


Full Definition of Accounts Payable


Accounts payable is money owed to suppliers who have sent your business goods, or supplied it with services, who you haven’t yet paid. These are also known as trade creditors.



Examples of Accounts Payable in a sentence


Long term accounts payable shall be accounted at actual amounts.

All the accounts payable balances were aged within 90 days.



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/accounts-payable/
Modern Language Association (MLA):
Accounts Payable. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. July 22, 2019 https://payrollheaven.com/define/accounts-payable/.
Chicago Manual of Style (CMS):
Accounts Payable. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/accounts-payable/ (accessed: July 22, 2019).
American Psychological Association (APA):
Accounts Payable. PayrollHeaven.com. Retrieved July 22, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/accounts-payable/

Definition Sources


Definitions for Accounts Payable are sourced/syndicated from:

  • Oxford Dictionary Of Economics
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 18th December 2018.