4 Accounts Payable Ledger

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accounts payable accounts payable ap is money owed by a business to its suppliers shown as a liability on a pany s balance sheet it is distinct from notes payable liabilities which are debts created by formal legal instrument documents an accounts payable is recorded in the account payable sub ledger at the time an invoice is vouched for payment accounts payable subsidiary ledger investopedia an accounts payable subsidiary ledger shows the transaction history and amounts owed for each supplier from whom a business s on credit general ledger account accounts payable accountingcoach general ledger account accounts payable the general ledger account accounts payable or trade payables is a current liability account since the amounts owed are usually due in 10 days 30 days 60 days etc the balance in accounts payable is usually presented as the first or second item in the current liability section of the balance sheet what are accounts payable definition and meaning definition of accounts payable money which a pany owes to vendors for products and services purchased on credit this item appears on the pany s accounts payable adding general ledger accounts adding general ledger accounts the general ledger accounts that are available for recording transactions are found in the pany s chart of accounts for most businesses the general ledger accounts are listed in the following order