Accrued payables are debts that have been accumulated over a period of time and must be paid by the business at some point. The payments are often made in installments over several months or years, which is why the amount due is referred to as an accrued liability. To calculate the amount of accrued payables, you must first add up all of the debts that the business has accumulated. You may have payables for such things as taxes, utility bills, credit cards, or invoices that have not yet been paid to vendors or suppliers. Businesses use accrual accounting to record expenses and revenue in order to keep track of their income from day-to-day operations. Accrued liabilities are recorded when they are incurred and not necessarily paid immediately after they are incurred, which contrasts with prepaid expenses, which are expenses that have been paid in advance but will not be used for several months or years.

Accrued payables are also sometimes called accrued expenses or accrued expenses payable.