Accounts Payable

What is Accounts Payable?

Accounts payable (AP) refers to the amount of money that a business owes to its suppliers or creditors for goods or services purchased on credit. It represents the short-term liabilities of a company, indicating the amount it owes to vendors, suppliers, or service providers for goods received or services rendered but not yet paid for.

Developed based on actual NetSuite user requests, ZoneCapture is a native NeSuite accounts payable solution that uses a combination of OCR and AI technology to reduce manual entry by up to 83%, eliminate human error, and enhance your existing NetSuite workflows and customizations.

Related terms

IFRS 15 Compliance

International Financial Reporting Standard (IFRS) 15 establishes a revenue recognition model for companies operating outside the United States. It governs how these businesses record and report information about the details, pricing and timing of revenue from customer contracts.

Invoice Processing

Invoice processing is the entire workflow a business follows to manage incoming invoices from suppliers or vendors, all the way from receiving them to paying them. It's essentially how companies ensure they're paying the right amount, to the right vendor, at the right time.

Invoicing

Invoicing is the process of formally requesting payment for goods sold or services rendered.

Journal Entry

A journal entry is a record of a financial transaction entered into an accounting system.

O2C Automation

Order-to-cash (O2C) automation is the use of software to eliminate manual processes across the O2C cycle.

Operating Cash Flow

Operating cash flow describes how money moves into and out of a company. Otherwise known as “net cash generated from operations” or “cash flow from operating activities,” this is often the first metric appearing on a business’s cash flow statement.