Payable (Noun)
Meaning
A liability account showing how much is owed for goods and services purchased on credit; "the problem was to match receivables and payables in the same currency".
Classification
Nouns denoting natural processes.
Examples
- The company's payables were significantly higher than its receivables, indicating a potential cash flow problem.
- The accountant carefully reviewed the payables ledger to ensure that all invoices were accurate and up-to-date.
- The payables account showed a total of $100,000 owed to various suppliers and vendors.
- The company's payables were a major concern, as they were due to be paid within the next 30 days.
- The financial analyst compared the company's payables to its receivables to assess its overall liquidity position.