accounts payable

ac·counts pay·a·ble

(AP, A/P) (ă-kownts' pā'ă-bĕl)

The aggregate of money owed by the health care practice or hospital to its suppliers and employees.

accounts

the bill provided to the client by the veterinarian setting out the sums owing for services rendered.

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itemized accounts

the provision of accounts for professional services in which all of the medicines, materials and services supplied are itemized. The disadvantage of the procedure is the opportunity that it provides to vexatious clients to argue with the charges. It is standard procedure to provide an itemized account if the client asks for one.

accounts payable

the monies owed to other accounts by the practice and to be paid during the month.

accounts receivable

the accounts that owe the practice money and which can be expected to pay during the month.