Business terms and jargon explained. Your business dictionary
What is Accounts payable
This is the purchase ledger department. The department that makes the payments. All invoices that need to be paid go to this department. They will make the payment and record the transaction and payment in the accounting system.
Knowledge is the key to success. That is why we have gone to great lengths to get you these business terms, and to explain them in Plain English so it is very easy to understand. Getting the right understanding and knowing your business jargon will keep you informed among your peers.