Billing Accounts Payable (AP) is the process of managing and tracking money that a business owes to vendors, suppliers, clients and other external parties. It involves recording all the financial transactions between each entity and keeping an up-to-date accounting system of invoices received, payments made and amounts due. AP also includes maintaining any payment methods, contracts and other documentation required for successful billing and payments. The goal of Billing Accounts Payable is to ensure that all payments are made on time and in full, while also providing transparency and accountability throughout the entire process.