Accounts Payable

Accounts Payable

The short-term liabilities of a firm are its accounts payable. Accounts payable mean money owed to vendors and suppliers.

Accounts payable are listed on the balance sheet of the business, which provides a quick overview of its financial situation. On the right, they are shown under “current liabilities.” Liabilities are stated in order of when they are due for payment. Considering that they normally need to be paid within 30 days, accounts payable are mentioned first.

We at Sellanti FS help you centralize all records with proper documentation including all sorts of payment methods, and reconcile accounts on a regular basis. We would also work on automating the process in the long run.