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Accounts payable

noun

Definitions

Noun
  1. 1
    The total amount of money that is owed by a customer to its suppliers of goods and services and is counted by the customer as a current unpaid debt. plural, plural-only

    "When such a practice is to be followed, two methods may be employed: (1) accounts payable may be reported net or (2) accounts payable may be reported at the gross invoice price with a payable offset balance or liability valuation account reporting the purchases discounts available."

  2. 2
    plural of account payable form-of, plural
  3. 3
    a debtor's accounts of money they owe; normally arise from the purchase of products or services wordnet

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