Pronunciation: /əˈkaʊnt ˈpeɪəbl/
noun a liability in the form of a written promise to pay a sum of money owed
A1 An account payable is money owed by a company to its suppliers.
A2 When you receive an invoice, it means you have an account payable to settle.
B1 The finance department is responsible for managing accounts payable and ensuring bills are paid on time.
B2 Analyzing the aging report helps to track and prioritize accounts payable for payment.
C1 Implementing automated systems can streamline the accounts payable process and reduce errors.
C2 Negotiating early payment discounts with suppliers can help improve cash flow and manage accounts payable effectively.
formal The company's account payable department is responsible for managing all outstanding invoices.
informal I need to make sure I pay my account payable on time to avoid any late fees.
slang I totally forgot about my account payable, I need to get that sorted out ASAP.
figurative Keeping up with your account payable is like staying on top of your financial responsibilities.
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