What is Accounts Payable (AP)?

Accounts Payable refers to the amount that a business owes to its suppliers, representing the sum owed by a business to its suppliers, is recorded as a liability on the company’s balance sheet. The Accounts Payable team is pivotal in ensuring the accurate and timely payment of invoices within the organizational framework. Typically, AP amounts, integral to calculating total available capital for routine operations, are relatively modest. Vendors, subcontractors, and suppliers are common recipients of AP transactions, often managed through traditional paper-based methods or legacy software due to the perceived low volume and low-risk nature of these transactions.

Learn more about Ivalua’s Accounts Payable Solutions.