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Accounting · Definition

Accounts Payable

Money your business owes to suppliers for goods or services received.

Accounts payable is the short-term debt you owe vendors who have invoiced you but not yet been paid. It sits as a liability on the balance sheet.

Managing AP well — paying on time, capturing early-payment discounts, avoiding duplicates — protects both cash flow and supplier relationships.

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Accounting Automation

Related terms

Accounts Receivable

AR

Money owed to your business by customers for sales made on credit.

Three-Way Match

Verifying a supplier invoice against the PO and the goods received before paying.

Aging Report

A breakdown of receivables or payables by how overdue they are.

Procure-to-Pay

P2P

The end-to-end process from requisition to supplier payment.

More in Accounting

Accrual Accounting Accrued Expense Bad Debt Provision Balance Sheet Bank Reconciliation Break-Even Point Budget Variance Cash Conversion Cycle (CCC)

Accounts Payable is not just a definition here

Accounting runs on this vocabulary every day in AWRA OpsHub — 51 of our 257 glossary terms describe things the platform actually does.

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