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<p><b>Accounts payable</b> (<b>AP</b>) is money owed by a business to its suppliers, shown as a liability on a company's <a href="page.php?w=balance_sheet">balance sheet</a>. It is distinct from <a href="page.php?w=notes_payable">notes payable</a> liabilities, which are debts created by formal <a href="page.php?w=legal_instrument">legal instrument</a> documents. An accounts payable department's main responsibility is to process and review transactions between the company and its suppliers and to make sure that all outstanding invoices from their</p><p>
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