Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Thomas J. Brock is a CFA and CPA with more than 20 years of experience in ...

Accounting systems and accountants must follow a set of principles called generally accepted accounting principles, commonly referred to as GAAP. These principles define the way certain transactions ...

Accounts payable is a financial accounting term that refers to the current liabilities of a company for any outstanding obligations they have to another party. This generally occurs when the business ...

Payments for services to U.S. independent contractors, other individuals, or unincorporated businesses of $600 or more in a calendar year are reportable to the IRS on a 1099 form. Any payments for ...

Accounts payable is an entry in a company's general ledger representing what it has to pay to vendors or creditors in the short term. Because the accounts payable section of a company's ledger ...

What is an Account Payable? The amount a company owes to vendors or suppliers in the short-term for goods or services the company received on credit. An account payable (AP) is a balance shown on a ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Charlene Rhinehart is a CPA , CFE, chair of ...

Business fraud is real. According to a report by the Association of Certified Fraud Examiners, “U.S. Businesses will lose an average of 5% of their gross revenues to fraud.” One of the most common ...

Accounts payable (AP) refers to the amount of money a business owes to its suppliers or vendors for goods or services received but not yet paid for. These are short-term liabilities that need to be ...

Here are the most frequently asked questions about reimbursements and payments. Does Accounts Payable issue checks for all reimbursements? Employee reimbursement requests below $50 should be submitted ...