Business Terms Glossary
Accounts Payable
Definition of Accounts Payable
Accounts Payable refers to obligations of the business to pay an amount to vendors or other creditors for goods and services purchased with credit.
Accounts payable appears on the balance sheet as a current liability.
Accounts Payable References On This Site
These Gaebler.com articles mention this glossary term:
- Keeping Business Records Organized - According to experts in records management, businesses, associations and not-for-profits should permanently keep the following documents: Audit reports Board minutes Cancelled checks for special contracts, important payments, asset purchases and payment of taxes�keep each check with the appropriate documentation to explain the purchase Capital stock and bond records Cash books Charts of accounts Computer backups Constitution and bylaws Contracts and leases (those that are still in effect) Correspondence concerning legal and other important matters Deeds, bills of sale and mortgages Depreciation schedules Insurance records Minutes for directors�, stockholders� and charter meetings Payroll records Property records, including blueprints and plans Retirement information, including IRA and Keogh contributions Stock and bond certificates�even the cancelled ones Tax returns Trademark, copyright and patent registration Year-end financial statements Year-end trial balances Keep 5�10 Years Accident reports or claims in settled cases Accounts payable ledgers and schedules...
- Obtaining Funding From a Venture Capitalist - Here are the important documents investors review, according to advice by experts David and Laura Gladstone: Audited financial statements since inception Income statements, balance sheets, cash flow statements Records of all changes in equity position Accounting methods and practices Company-prepared monthly or quarterly statements A three-year budget and financial projections A complete and current business plan Accounts receivable aging and accounts payable aging...
- Balance Sheets - Loans, accounts payable, tax liabilities on assets, and bonds issued are all...
- Estimating Startup Costs - Any startup financing done by the company or small business using a credit card will end up as Accounts Payable on the balance sheet and becomes the starting balance...
- Accounting Terminology for Entrepreneurs: A - Account payable is often simply referred to as "payables" or "A/P". It is a short term debt and could be...
- Accounting Terminology for Entrepreneurs: G-L - Examples of current liabilities are wages, taxes, accounts payable, etc. Long-term liabilities are liabilities that are not...
- Keeping Business Records Organized - According to experts in records management, businesses, associations and not-for-profits should permanently keep the following documents: Audit reports Board minutes Cancelled checks for special contracts, important payments, asset purchases and payment of taxes�keep each check with the appropriate documentation to explain the purchase Capital stock and bond records Cash books Charts of accounts Computer backups Constitution and bylaws Contracts and leases (those that are still in effect) Correspondence concerning legal and other important matters Deeds, bills of sale and mortgages Depreciation schedules Insurance records Minutes for directors�, stockholders� and charter meetings Payroll records Property records, including blueprints and plans Retirement information, including IRA and Keogh contributions Stock and bond certificates�even the cancelled ones Tax returns Trademark, copyright and patent registration Year-end financial statements Year-end trial balances Keep 5�10 Years Accident reports or claims in settled cases Accounts payable ledgers and schedules...
- Liquidity Ratios - This involves any short-term debt, accounts payable, accrued liabilities, and various short-term obligations. Both the...
- Developing a Comprehensive Recordkeeping System - You should also be generating monthly financial statements that include cash flow, accounts receivable, accounts payable, payroll, overall income statement and balance statement...
- Obtaining Funding From a Venture Capitalist - Here are the important documents investors review, according to advice by experts David and Laura Gladstone: Audited financial statements since inception Income statements, balance sheets, cash flow statements Records of all changes in equity position Accounting methods and practices Company-prepared monthly or quarterly statements A three-year budget and financial projections A complete and current business plan Accounts receivable aging and accounts payable aging...
- Key Factors to Consider When Buying a Business - Be sure to carefully review copies of the business's certified financial records, including cash flow statements, balance sheets, accounts payable and receivable, employee files, including benefits and any employee...
- Estimating Startup Costs - Any startup financing done by the company or small business using a credit card will end up as Accounts Payable on the balance sheet and becomes the starting balance...
- Accounting Terminology for Entrepreneurs: B, C - Current liabilities include accounts payable, short-term debt, accrued liabilities, etc. In general, companies...
- Accounting Terminology for Entrepreneurs: G-L - Examples of current liabilities are wages, taxes, accounts payable, etc. Long-term liabilities are liabilities that are not...
- Liquidity Ratios - This involves any short-term debt, accounts payable, accrued liabilities, and various short-term obligations. Both the...
- Tenant Screening for Credit Worthiness - Check the firm�s accounts payable record to see where it�s going. If there...
- Balance Sheet Interpretation Part V: Current Liabilities - The five main categories of current liabilities are: accounts payable, accrued expense, income tax payable, short-term notes payable...
- Balance Sheets - Loans, accounts payable, tax liabilities on assets, and bonds issued are all...
- Accounting Terminology for Entrepreneurs: A - Account payable is often simply referred to as "payables" or "A/P". It is a short term debt and could be...
- Developing a Comprehensive Recordkeeping System - You should also be generating monthly financial statements that include cash flow, accounts receivable, accounts payable, payroll, overall income statement and balance statement...
- Accounting Terminology for Entrepreneurs: B, C - Current liabilities include accounts payable, short-term debt, accrued liabilities, etc. In general, companies...
- Balance Sheet Interpretation Part V: Current Liabilities - The five main categories of current liabilities are: accounts payable, accrued expense, income tax payable, short-term notes payable...
- Tenant Screening for Credit Worthiness - Check the firm�s accounts payable record to see where it�s going. If there...
- Key Factors to Consider When Buying a Business - Be sure to carefully review copies of the business's certified financial records, including cash flow statements, balance sheets, accounts payable and receivable, employee files, including benefits and any employee...
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