Journal entries are bookkeeping records that document the financial transactions of a business. When it comes to accounts payable, journal entries are used to record payments made to suppliers for goods and services. This ensures accuracy in accounting practices and creates a historical record of all accounts payable transactions. Companies can make accurate budgeting decisions in the future by tracking their past accounts payable journal entries. Additionally, journal entries enable businesses to stay compliant with state and federal regulations regarding accounting principles and practices.