Accounts payable are the debts that the business needs to pay.
Oftentimes,accounts payable are kept track of in a monthly manner.At the end of the mont, business looks at all the debts they need to pay.Ltd is handy to keep a record of accounts payable in case there are any payment disputes,in order to remind the business to pay,or as proof of spending at tax time.These records can be kept manually or with accounting software.