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Accounts Payable

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)

IDNameLevelx
S107Approve Payment3S107
S208Approve Payment3S208
S309Approve Payment3S309
S408Settle Return3S408

Metric(s)

IDNameLevelx
AE13Days Payables Outstanding2AE13
AE131Early Payments Ratio3AE131
AE132On-time Payments Ratio3AE132
AE133Late Payments Ratio3AE133
AE134Duplicate Payments Ratio3AE134

Term(s)

IDNameClearx
CSFPStatement of Financial PositionCSFP
WCWorking CapitalWC
Accounts Payable {{{level}}}
"{{{level}}}" is not a number.
{{{keywords}}} {{{description}}}

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