What is Account Payable (AP) in Accounting? | GoSetle® Account Payable with Simple Example

"Accounts Payable (AP) is the money a company owes to its suppliers or vendors for goods and services purchased on credit. In this video, we explain Accounts Payable with a simple example so you’ll never forget it!

📌 Accounts Payable = Company’s short-term liability
📌 Example: Buying on credit from a supplier
📌 Easy explanation for students, business owners, and beginners in accounting

💡 Don’t forget to check our other videos on Accounts Receivable, Invoices, Credit Notes, and more!"

#Accounting #AccountsPayable #BusinessBasics