accounts payable; an amount owed to a vendor or supplier for services performed or merchandise sold. Accounts payable also refers to a function or department within a company responsible for tracking incoming invoices and for disbursing funds to settle and reconcile those invoices.
An authorization, usually by a bank to a seller, for the purchase, with or without recourse, of draft(s), document(s) and/or goods up to a designated amount. Français: Autorisation à payer Español: Autoridad para pagar