“Accounts Payable” means all accounts payable and liabilities, obligations and commitments, regardless of when asserted, billed or imposed, of Seller and its Affiliates.
Amounts owed by a federal agency for goods and services received from, progress in contract performance made by, and rents due to other entities. This is a proprietary (or financial) accounting term. For balance sheet reporting purposes, according to OMB Circular No. A-11 “accounts payable” consists of the amount owed by the reporting entity for goods and services received from other entities, progress in contract performance made by other entities, and rents due to other entities.
Money a company owes for services and supplies. For example, a record company would list as accounts payable the bill from a wax company that supplied the raw material for making records.
Accounts Payable refers to the function and part of the accounting system that processes and issues payments to vendors for goods and services received by the state. These payments include both contract and non-contract payments.
Accounts Payable has been defined 14 different ways in documents like Stock Purchase Agreement, A Glossary of Terms Used in the Federal Budget Process, Glossary of Terms & Acronyms, and 7 more.