Accounts Payable

C1 16+

Pronunciation: /əˈkaʊnts peɪəbəl/

Definitions of accounts payable

noun a liability account in a general ledger representing the company's obligation to pay suppliers or vendors for goods or services purchased on credit

Example Sentences

A1 I need to pay my accounts payable by the end of the month.

A2 The accounts payable department is responsible for managing the company's bills.

B1 The accounts payable clerk is in charge of processing invoices and making payments.

B2 The accounts payable balance must be reconciled with the general ledger each month.

C1 The accounts payable aging report provides a detailed breakdown of outstanding invoices.

C2 Implementing automated accounts payable systems can streamline the payment process and reduce errors.

Examples of accounts payable in a Sentence

formal The accounts payable department is responsible for managing the company's outstanding invoices.

informal I need to check with accounts payable to see if my expense report has been processed yet.

slang I heard accounts payable is swamped with work this week.

figurative In the grand scheme of things, keeping track of accounts payable is like balancing a never-ending stack of plates.

Grammatical Forms of accounts payable

plural

accounts payables

present tense

account payable

future tense

will be accounts payable

perfect tense

has been accounts payable

continuous tense

is being accounts payable

singular

account payable

positive degree

more accounts payable

infinitive

to account payable

gerund

account paying

participle

account payable

Origin and Evolution of accounts payable

First Known Use: 1601 year
Language of Origin: Latin
Story behind the word: The term 'accounts payable' originated from medieval Latin 'computare', meaning to calculate or settle an account.
Evolution of the word: Originally used in the context of financial accounting to refer to the money a company owes to its suppliers or vendors, the term 'accounts payable' has evolved to encompass all outstanding balances owed by a business, including loans, taxes, and other liabilities.