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Accounts payable (AP) is money owed by a business to its suppliers shown as liability on a company's balance sheet. It is distinct from notes payable liabilities, which are debts created by formal
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What is lambton college accounts payable?
Lambton College accounts payable refers to the amount of money owed by the college to its suppliers and creditors for goods or services received.
Who is required to file lambton college accounts payable?
The finance department or designated personnel within Lambton College are responsible for filing and maintaining accounts payable records.
How to fill out lambton college accounts payable?
To fill out Lambton College accounts payable, you will need to gather all relevant invoices and payment requests, verify the accuracy of the information provided, and record the payment details in the college's accounting system.
What is the purpose of lambton college accounts payable?
The purpose of Lambton College accounts payable is to ensure timely and accurate payment of obligations to suppliers and creditors, maintain positive relationships with them, and track financial transactions.
What information must be reported on lambton college accounts payable?
The information reported on Lambton College accounts payable includes the name and contact information of the supplier or creditor, invoice number, date of the invoice, description of the goods or services provided, and the amount owed.
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