Account Payable

C1 16+
  • Frequency of Use
    70 %
  • Retention Rate
    60 %
  • Complexity
    80 %
  • Account Payable Meanings

    noun a liability in the form of a written promise to pay a sum of money owed

    Fields related to account payable

    Finance

    In finance, accounts payable is an important component of working capital management and cash flow analysis.

    Accounting

    In accounting, accounts payable refers to the money owed by a company to its suppliers or vendors for goods or services received on credit.

    Business Administration

    In business administration, accounts payable is a key part of managing a company's financial obligations and maintaining good vendor relationships.

    Taxation

    In taxation, accounts payable affects the timing of deductions and can impact a company's tax liability.

    Auditing

    In auditing, accounts payable is a focus area to ensure accuracy in financial reporting and compliance with regulations.

    Supply Chain Management

    In supply chain management, accounts payable plays a role in ensuring timely payment to suppliers to maintain a smooth flow of goods and services.

    Occupation Usage of account payable

    Writer

    In the context of a writer, accounts payable may refer to the money owed by the writer to vendors or suppliers for services or goods purchased for their writing projects.

    Psychologist

    For a psychologist, accounts payable could include expenses related to running a private practice such as rent, utilities, or office supplies that need to be paid to maintain the business.

    Accountant

    An accountant may deal with accounts payable as part of their job responsibilities, ensuring that bills are paid on time and accurately recorded in the financial records of a business.

    Business Owner

    A business owner is responsible for managing accounts payable, which involves tracking and paying invoices from suppliers, vendors, and contractors to maintain good relationships and ensure the business operates smoothly.

    Consolidated Statistics about account payable

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