Accounts payable (A/P) is a file or account that contains money that a person or company owes to suppliers, but has not paid yet (a form of debt). When an invoice is received, it is added to the file, and then removed when it is paid. Thus, the A/P is a form of credit that suppliers offer to their purchasers by allowing them to pay for a productAn artefact that is produced, is quantifiable, and can be ei... More or service after it has already been received.