account payable

noun, plural accounts payable.

a liability to a creditor, carried on open account, usually for purchases of goods and services.

Origin of account payable

First recorded in 1935–40 Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020

British Dictionary definitions for account payable

account payable


accounting, US a current liability account showing amounts payable by a firm to suppliers for purchases of materials, stocks, or services on credit
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012