Accounts Payable

Accounts Payable (AP) is an accounting entry that represents an entity’s obligation in order to a short-term credit card debt to its collectors. The accounts payable entry is found on a balance sheet under the heading current liabilities. Accounts payable are also known as “payables”. Another common usage of AP refers with a business department or even division that is liable for making payments owed because of the company to suppliers and also other creditors.