Accounts Payable
Accounts Payable (alternatively known as Accounts Payable account or A/P account) is the ledger account that, after postings are complete, shows the total amount of money that the creditors of the legal entity owe to this entity.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
