Accounts Payable is the portion of a business’s balance sheet that indicates how much money it owes to suppliers and creditors for goods and services purchased on credit. It is essentially the company’s ledger of debts—money it must pay back, often with interest. Accounts payable is an important part of managing company finances, as timely payment helps maintain good relationships with suppliers and helps build a solid financial foundation. Keep track of what your business owes, when payments are due, and who they’re owed to with Accounts Payable.