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Accounts Payable is a Subledger in which all credit purchases are recorded upon receipt of supplier Invoices. In Financial Reporting Accounts Payable is the total amount due to suppliers for products or services purchased on credit. The Accounts Payable amount represents the unpaid portion of supplier invoices. Wages, taxes and notes payable are not included in Accounts Payable.

The primary document recorded in the Accounts Payable ledger is the supplier invoice. Credits received from suppliers Credit Notes are also recorded in the Accounts Payable ledger.

A typical entry in Accounts Payable includes:

• Purchase Order number
• Invoice number
• Invoice date
• Invoice due date
• Supplier number or name
• Product or service item number, SKU or name
• Total amount
• Sales tax amount - if applicable
• Payment status

Alternative names for Accounts Payable include: Payables, Trade Payables, Trade and Other Payables.

Process(es)

ID	Name	Level	x
S107	Approve Payment	3	S107
S208	Approve Payment	3	S208
S309	Approve Payment	3	S309
S408	Settle Return	3	S408

Metric(s)

ID	Name	Level	x
AE13	Days Payables Outstanding	2	AE13
AE131	Early Payments Ratio	3	AE131
AE132	On-time Payments Ratio	3	AE132
AE133	Late Payments Ratio	3	AE133
AE134	Duplicate Payments Ratio	3	AE134

Term(s)

ID	Name	Clear	x
CSFP	Statement of Financial Position		CSFP
WC	Working Capital		WC

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Statement of Financial Position Days Payables Outstanding Early Payments Ratio On-time Payments Ratio Late Payments Ratio Duplicate Payments Ratio