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Accounts payable also known as (AP), is money or debts owed by a business to pay off a short-term debt to its creditors or suppliers. It is normally shown as a liability on a company's balance sheet or general ledger.
It is NOT the same as notes payable liabilities. Notes payable are debts created by formal legal instrument documents.
Part of what we do in our Bookkeeping service will be to review and process all transactions between your company and its creditor or suppliers. We will also be able to verify all outstanding invoices from your suppliers or creditors are approved, processed, and paid.
Accounts Payable is part of the process that must take place in order to help keep your financial books in balance and business running smoothly.
Click below to schedule an appointment to inquire more about our Bookkeeping service along with any questions about Accounts Payable.
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