Definition of Account payable

1. Noun. A liability account showing how much is owed for goods and services purchased on credit. "The problem was to match receivables and payables in the same currency"

Exact synonyms: Payable
Generic synonyms: Financial Obligation, Indebtedness, Liability

Definition of Account payable

1. Noun. (context: usually pluralonly) Singular form of accounts payable ¹

¹ Source:

Lexicographical Neighbors of Account Payable

account book
account books
account code
account executive
account executives
account for
account manager
account managers
account of
account payable (current term)
account receivable
account representative
account statement
account to
accountability partner
accountable cryptomaterial
accountable depot
accountable disbursing officer
accountable disbursing officers
accountable mail
accountable mails

Literary usage of Account payable

Below you will find example usage of this term as found in modern and/or classical literature:

1. Transfer Pricing Guidelines for Multinational Enterprises and Tax OECD Staff, Organisation for Economic Co-operation, OECD, Development by OECD Staff, Organisation for Economic Co-operation, OECD, Development (2001)
"On the other hand, where an account payable is set up, both the taxpayer recording the account payable and the tax administration of that country will need ..."

2. Accounting Theory and Practice by Roy Bernard Kester (1917)
"The schedule above shows under ( I) and (b) a debit to Merchandise and a credit to the personal account payable, indicated by the name of the creditor. 3. ..."

3. Modern Business Arithmetic, Complete Course by Harry Anson Finney, Joseph Clifton Brown (1922)
"If a person's account is larger on the credit side, it shows a balance owed to that person; it is therefore an account payable, and the balance is a ..."

4. Bookkeeping for Modern Business by John George Kirk, James Layman Street (1920)
"... the account is known as a liability account or an account payable. Accounts Payable.—Mr. Smith's account is called an account payable, ..."

5. Bookkeeping and Accountancy: Presenting the Art of Bookkeeping in Accordance by Harry Marc Rowe (1910)
"As it stands, is it an account receivable or an account payable? ... How does the account differ from an ordinary account receivable or account payable? ..."

6. 20th Century Bookkeeping and Accounting: A Treatise on the Principles of by James Williams Baker (1922)
"The Balance of an account payable shows the amount the business owes the creditor ... Ruling an account payable. The account with a creditor is ruled in the ..."

7. Mine Accounting and Cost Principles by Thomas Orrin McGrath (1921)
"Instead of debiting an Accrued Disbursement Account and crediting an Accrued account payable at the end of each accounting period, in order to show an ..."

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