Keyword Analysis & Research: payable

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What does payables mean?

Definition: Accounts payable, also called trade payables, is a short-term liability account used to record debts from purchasing goods or services on credit.

What does payable by mean?

Payable simply describes a balance that is still owed or due. Payable by invoice means the amount of money payable for services and goods the company ordered, including other costs. It refers to the money owed by a business to its suppliers shown as a liability in the balance sheet of the company.

What is the definition of payable?

pay·a·ble (pā′ə-bəl) adj. 1. Requiring payment on a certain date; due. 2. Requiring payment to a particular person or entity. 3. Capable of producing profit: a payable business venture. n. A debt that is owed to a creditor: tried to balance inventory, payables, and receivables.

Are payables a liability?

A liability is an obligation and it is reported on a company's balance sheet. A common example of a liability is accounts payable. Accounts payable arise when a company purchases goods or services on credit from a supplier. When the company pays the supplier, the company's accounts payable is reduced.

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