Definition of Payables:
Money owed to creditors, lenders, employees, or government (taxes), presented as a liability in the balance sheet of a firm. If due within 12 months, payables are shown as a short-term liability; if not, as a long-term liability. Failure to make payment for payables when they fall due can cause loss of creditworthiness, lawsuits, penalties, or liquidation of the firm.
Able to be paid.
Debts owed by a business; liabilities.
(of money) required to be paid; due.
Synonyms of Payables
Due, To be paid, Owed, Owing
How to use Payables in a sentence?
- Accounts payable (excluding customer refunds and construction payables).
- Interest is payable on the money owing.
Meaning of Payables & Payables Definition