Is 'accounts payable' singular or plural?

It is typically used as a plural noun (e.g., 'The accounts payable are high') or as a singular noun phrase for the department (e.g., 'She runs Accounts Payable'). The singular 'an account payable' refers to one specific debt.

What's the difference between 'accounts payable' and 'accounts receivable'?

'Accounts payable' is money YOUR company owes to others (a liability). 'Accounts receivable' is money OTHERS owe to your company (an asset). They are opposite sides of a credit transaction.

Where do accounts payable appear on financial statements?

Accounts payable are listed under 'Current Liabilities' on a company's balance sheet.

What is a common job title related to this term?

'Accounts Payable Clerk' or 'Accounts Payable Specialist' is a common role responsible for processing invoices, making payments, and managing supplier records.

account payable

C1-C2

UK/əˈkaʊnt ˈpeɪəbəl/US/əˈkaʊnt ˈpeɪəbəl/

Formal, Technical, Business

My Flashcards

Definition

Meaning

An amount of money that a company owes to a supplier or creditor for goods or services bought on credit, recorded as a current liability on the balance sheet.

The general accounting category or department that handles money owed by an entity; often used in the plural form 'accounts payable' to refer to the total sum of such debts or the ledger listing them.

Linguistics

Semantic Notes

A core term in accounting and finance. It refers specifically to a legally binding short-term debt that arises from a purchase on credit. It is contrasted with 'accounts receivable' (money owed to the company).

Dialectal Variation

British vs American Usage

Differences

No significant lexical difference. 'Accounts payable' is used identically. The function or department may be referred to as 'creditors' in some traditional UK accounting contexts.

Connotations

Technical and neutral in both varieties. No difference in connotation.

Frequency

Equally frequent and standard in professional business and accounting contexts in both the UK and US.

Vocabulary

Collocations

strong

record an account payableoutstanding accounts payableaccounts payable departmentageing of accounts payableaccounts payable ledger

medium

process an account payablesettle an account payablelist of accounts payablemanage accounts payablereduce accounts payable

weak

large account payableimmediate account payableinternal account payablevendor account payable

Grammar

Valency Patterns

The account payable to [Creditor] is due on [Date].We have an account payable for the office supplies.She works in accounts payable.

Vocabulary

Synonyms

Strong

trade payablecreditor balance

Neutral

creditortrade creditorliabilitybill due

Weak

debtbillinvoicemoney owed

Vocabulary

Antonyms

account receivableassetcash in handprepayment

Phrases

Idioms & Phrases

“On the books as a payable”
“The payables are piling up.”

Usage

Context Usage

Business

The accounts payable clerk processed the invoice from our supplier.

Academic

The study analysed the correlation between days payable outstanding and supplier relationships.

Everyday

Rarely used in everyday conversation; people would say 'a bill we need to pay' or 'money we owe'.

Technical

The current ratio is calculated by dividing current assets by current liabilities, which include accounts payable.

Examples

By Part of Speech

adjective

British English

The payable amount was clearly stated on the invoice.

American English

Make the cheque payable to the order of the supplier.

Examples

By CEFR Level

The company has many accounts payable to different shops.

Before investing, check the company's accounts payable to understand its short-term debts.
Our accounts payable have increased since we expanded our inventory.

The auditor is scrutinising the ageing schedule of accounts payable for any irregularities.
Effective management of accounts payable is crucial for maintaining a healthy cash flow and good supplier credit terms.

Learning

Memory Aids

Mnemonic

Think: An account you must PAY. It's PAYABLE. It sits on your books as an obligation to PAY someone else.

Conceptual Metaphor

FINANCIAL OBLIGATION IS A WEIGHT / BURDEN (e.g., 'weighed down by payables').

Watch out

Common Pitfalls

Translation Traps (for Russian speakers)

Do not translate as 'счёт к оплате' which is the literal phrase on an invoice. The correct accounting terms are 'кредиторская задолженность' or 'счета к оплате'.
Confusing 'payable' (что должно быть выплачено) with 'paid' (выплаченный).

Common Mistakes

Using 'account payable' as a verb (e.g., 'We need to account payable this invoice' – incorrect).
Confusing 'accounts payable' (money you owe) with 'accounts receivable' (money owed to you).
Misspelling as 'account payables' (the 's' belongs on 'accounts').

Practice

Quiz

Fill in the gap

The finance team reconciled the ledger to ensure all supplier invoices were recorded correctly.

Multiple Choice

Which of the following is the BEST definition of 'accounts payable'?

FAQ

Frequently Asked Questions

: It is typically used as a plural noun (e.g., 'The accounts payable are high') or as a singular noun phrase for the department (e.g., 'She runs Accounts Payable'). The singular 'an account payable' refers to one specific debt.
: 'Accounts payable' is money YOUR company owes to others (a liability). 'Accounts receivable' is money OTHERS owe to your company (an asset). They are opposite sides of a credit transaction.
: Accounts payable are listed under 'Current Liabilities' on a company's balance sheet.
: 'Accounts Payable Clerk' or 'Accounts Payable Specialist' is a common role responsible for processing invoices, making payments, and managing supplier records.