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account payable

noun

Definitions

  1. A balance due to a creditor on a current account.

    • If a company, for example, purchases $500 in raw materials from its supplier on credit, the company incurs a $500 account payable.
    • After delivery, sellers issue an invoice, recorded as an account receivable by the seller and an account payable by the buyer.

The neighborhood

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No curated loop yet for account payable. Loops are being traced one word at a time while the ingestion pipeline matures.

sense glosses and etymology drawn from English Wiktionary · source · CC-BY-SA