bills payable (B2)
noun phrase
Pronunciation: /ˈbɪlz ˈpeɪəbəl/
Definition
Amounts that a business owes to its suppliers or creditors, usually as a result of purchasing goods or services on credit. These bills are typically paid within a specified timeframe, such as 30 or 60 days.
Examples
The company's bills payable included invoices from several major suppliers.
Managing bills payable is crucial for maintaining a healthy cash flow.
How to Use bills payable
- pay bills payable (verb phrase)
- to pay the amounts owed to suppliers or creditors — "The company paid its bills payable on time to avoid late fees."
- manage bills payable (verb phrase)
- to oversee and control the amounts owed to suppliers or creditors — "The accountant was responsible for managing the company's bills payable."
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