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Accounts Payable

Account type

The record of the outstanding bills of a business. Accounts Payable is called A/P for short. (Even though the word accounts is plural, QuickBooks uses a single account on the chart of accounts to track all outstanding bills.)

Accounts Payable account

An account that QuickBooks automatically adds to your chart of accounts the first time you enter a bill. QuickBooks uses this account to track the money your business owes to others. When you enter a new bill, or pay off outstanding bills, QuickBooks records the transaction in the register for your Accounts Payable account.

Your chart of accounts lists the type of this account as "Accounts Payable." If you need to use more than one of this type of account in your business, you can add additional "accounts payable" accounts to the chart. When you have more than one accounts payable account, QuickBooks lets you choose the account you want to use when you enter and pay bills.

KB ID# H_COA_GL_AP
9/25/2016 6:59:49 AM
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