Accounts Payable Definition | Finance Strategists | Your Online Finance Dictionary

Описание: Accounts Payable, or AP in its abbreviated form, is a ledger entry made for amounts owed to creditors in the short-term, typically less than a year, on an open account. It is generally recorded as a collection of invoices and promissory notes received from a vendor. Each invoice has different credit terms and payment amounts that are specific to the vendor. Typically, the sum of all A/P entries represents liabilities owed by a company at a specific point in time. An accounts payable entry for an accounts payable department in an organization is an accounts receivable entry for its supplier.
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0:00 Accounts Payable Definition
0:37 Accounts Payable Explanation
1:04 Accrual Method of Accounting
1:19 Use of Accounts Payable
1:59 Accounts Payable Question & Application
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