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English definition of “accounts payable”

accounts payable

noun
 
 
[plural] (also UK creditors, also US payables) ACCOUNTING the amounts in a company's accounts that show money that it owes, for example to suppliers (= companies that have sold them things): Accounts payable were $676 million lower as of the middle of this year compared to a year ago. → See also business debt
[U] WORKPLACE the department in a company responsible for paying money that it owes, for example to suppliers (= companies that have sold them things): He was promoted to a better-paying job in accounts payable after taking computer classes. an accounts payable manager/clerk the accounts payable department
(Definition of accounts payable from the Cambridge Business English Dictionary © Cambridge University Press)
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