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Motions resulting from City Council Regular Meeting 17 Jan 2017 Item # n/item Description Accounts: Payables and Payroll, January 17, 2017Item Type CONSENT Calendar/minutes: City Council Regular Meeting,
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Accounts payable is the amount of money a company owes to its suppliers for goods and services purchased on credit.
Businesses and organizations that purchase goods or services on credit from suppliers are required to file accounts payables.
Accounts payables are typically filled out by recording the invoice number, date, supplier name, amount owed, and payment terms.
The purpose of accounts payables is to track the amount of money owed to suppliers and ensure timely payment.
Information such as invoice number, date, supplier name, amount owed, and payment terms must be reported on accounts payables.
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