Accounts Payable
Accounts Payable
accounting entries representing the money a company owes to creditors for items purchased on credit
Purchase on Account
business (or person) which receives the good or service and promises to pay at a later date; also referred to as "purchasing on credit"
Vendor File
document or file which provides information about company vendors
Vendor Invoice
document provided to companies when they buy items on account
Purchase Order
document which authorizes a buyer to receive goods/services from a seller
Vendor Statement
lists all amounts owed from previous invoices
Vendor
person or business which provides goods and services to a company
Credit Terms
provides information about when an invoice is due
Schedule of Accounts Payable
report which lists all amounts which are owed by a business; further ensures which accounts payable entries are properly recorded
Receiving Report
used to indicate the goods listed on the purchase order which were actually received
Accounts Payable Subsidiary Ledger
used to track accounts payable transactions in more detail