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Accounts Payable Definition | Finance Strategists | Your Online Finance Dictionary

Accounts Payable, or AP in its abbreviated form, is a ledger entry made for amounts owed to creditors in the short-term, typically less than a year, on an open account. It is generally recorded as a collection of invoices and promissory notes received from a vendor. Each invoice has different credit terms and payment amounts that are specific to the vendor. Typically, the sum of all A/P entries represents liabilities owed by a company at a specific point in time. An accounts payable entry for an accounts payable department in an organization is an accounts receivable entry for its supplier. _______________________ 0:00 Accounts Payable Definition 0:37 Accounts Payable Explanation 1:04 Accrual Method of Accounting 1:19 Use of Accounts Payable 1:59 Accounts Payable Question & Application _______________________ Talk with an advisor by emailing [email protected] Learn more by visiting the page: https://www.financestrategists.com/te... Check out the main Finance Strategists YouTube Page here:    / @financestrategists4468   _______________________ Message from the founder: Here at Finance Strategists, we believe one of the best ways you can help someone is with their finances. We create helpful informational videos and content to help people take control of their finances. Finance Strategists plans to launch "Finance Strategists for Kids" where we teach fundamental financial concepts to kids in a clear manner allowing them to generate margin in their lives to bless other people. We believe raising up a generation of leaders with financial freedom can change individual lives, neighborhoods, countries, and the world. _________________________ 🔔 Hit the bell next to Subscribe so you don't miss a video! 📧 Fill out this form to receive the "Finance Word of the Day" in your inbox! 👨🏻‍💻 Watch our newest vids! - https://bit.ly/FS-Recently-Added 💃 To book Ranie for voiceover or spokeswoman, email [email protected] _________________________ Follow us on Socials: Website: FinanceStrategists.com Instagram: @financetrategists Twitter: @FinStrategists LinkedIn: https://bit.ly/FS-linkedin Facebook: https://bit.ly/Facebook-FS