What is the official business definition of Accounts Payable Process Steps? This is a question that enough people ask that we have put together an answer for you. It’s not an easy question, and it’s also not a simple one.

The accounts payable process is a standard business practice that organizations use to track and pay bills over time. This process typically applies to organizations that need to conduct business with vendors or suppliers of some sort, whether they are individuals or companies.

Accounts payable is sometimes called “A/P”, because it’s the same thing as “accounts payable”. The term “accounts receivable” refers to money that someone owes you. A/R and A/P are different things, but they’re both related to accounts, which are just buckets for holding money. So you can see why A/P is sometimes shortened to A/P, which stands for “accounts payable”.

Accounts Payable is a specific part of your organization’s financial management system. In this section, we’ll show you where it fits in the bigger picture of financial management at both the organizational level and the department level.