What Is Accounts Payable?

Author: External Author | | Categories: Accountant , Accounting

When a company purchases goods and services from a supplier or creditor on credit that needs to be paid back in a short period of time, the accounting entry is known as Accounts Payable (AP). On a balance sheet, it appears under current liabilities. In a company, an AP department is responsible for making payments owed by the company to suppliers and other creditors.

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Original Article Source Credits:   Freshbooks , https://www.freshbooks.com/

Article Written By:  NA

Original Article Posted on:  NA

Link to Original Article:  https://www.freshbooks.com/hub/accounting/accounts-payable



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