What is Accounts Payable (AP)?

Accounts Payable is money owed to someone for a service provided. Something is typically payable once the goods have been delivered or the service has been performed. Property AP are funds due to a vendor for goods or services provided to the property. If something is payable it has not been paid. If there are no funds to pay or if invoices get processed close to the AP cut-off, some invoices may not get paid by cut-off and will show as payable in that month's financial statements.

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