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Answer is no accounts payable is current liability .
Of course not , it may emerge from an expense but is not direct expense like telephone bill amount is unpaid for the period , the bill amount will appear in expenses where as the bill amount to be paid to will appear as Accounts payable.
account payable is a liability not expense.
AP is a current liability which is created through purchase of materials /services
Financially and accounting's concept, it is not an expense category, BUT in reality it is against main expense called a purchasing cost, to acquire goods or services that will be resold to get revenuse after adding direct expenses and profit margin.
When the category of expense means all necesary expendtures that we need to sell goods or services, and it called indirect expenses.
What is accounting?
the difference between asset, liability and owner
the difference between bank reconciliation and bank statement
No . It is Liabilities . It is show in the Balance sheet . You have to pay the amount to my customer who supply goods or service .
no it is not .. accounts payable is the amount of debt in which the company has to pay to its creditors , it is classify as a current liabilities .. it can be recognized an expense for the company as it's cost decreases when it pay to its customers
Accounts payable is a current liability of the organization and not an expenses.
Accounts payable is listed on a company's balance sheet.Accounts payable is a liability since it's money owed to creditors and is listed under current liabilities on the balance sheet.
