Invoicing terms
Accounts payable (AP)
Money a business owes suppliers for bills received but not yet paid — a liability.
Accounts payable is the money a business owes its suppliers for bills it has received but not yet paid. It is the mirror image of accounts receivable, recorded as a short-term liability.
Managing AP well means paying on time to keep supplier relationships healthy while holding onto cash as long as the agreed terms allow.
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