Accounts Payable Process Flow

Accounts Payable Process Flow

Accounts payable is the process of paying invoices and other money that is owed by a company to its suppliers and contractors. Accounts payable is part of the procure-to-pay process in which a company purchases goods and services and then pays for them. Accounts payable is a liability because it represents money that the company owes. The accounts payable process flow includes invoice data capture, coding invoices with the correct account and cost center, approving invoices, matching invoices to purchase orders, and posting for payments.