Accounts Payable — Managing payments to suppliers
Accounts payable are amounts your business owes to suppliers for received goods or services for which an invoice has been received but payment has not yet been made.
Definition
Accounts payable are amounts your business owes to suppliers for received goods or services for which an invoice has been received but payment has not yet been made.
Details
Regular payment of obligations builds trust with suppliers and can secure better terms. Late payment incurs late interest. Payables are recorded on the liability side of the balance sheet. Levka helps you track and prioritize payments.
Example
You have 3 unpaid invoices: supplier A (80K MKD, due tomorrow), supplier B (45K, due in 15 days), supplier C (120K, due in 30 days). Total payables: 245K MKD.