When starting to learn accounting basics, many business owners ask what is accounts payable. An account payable is an amount that a business must pay to a supplier for goods or services which have been acquired on credit. The accounts payable definition aids the companies in managing their short-term liabilities and cash flow. With businesses monitoring unpaid invoices and payment deadlines, the accounts payable meaning becomes clear. The effective AP process can prevent late fees, enhance relationship with suppliers, and manage finances effectively.