Business & Accounting
Accounts Payable
Definition
Money a business owes to its suppliers, vendors, or service providers for goods or services received but not yet paid for. Accounts payable represents short-term obligations that typically must be paid within 30 to 90 days. Effective accounts payable management involves tracking due dates to avoid late fees, taking advantage of early payment discounts when offered, and timing payments to optimize cash flow without damaging vendor relationships.
Related Templates
These SheetCraft templates use or relate to Accounts Payable:
- Small Business Bookkeeping System, Simple bookkeeping for small business owners who don't have an accountant, income, expenses, P&L, sales tax, and bank reconciliation.