Payables are a necessary aspect of any business, but the terminology used to refer to them can vary. Some synonyms for payables include debts, obligations, liabilities, bills, expenses, and accounts payable. Each of these terms refers to the amount of money owed by a business to its creditors and suppliers. Accounts payable specifically refers to the money that a company owes to its suppliers for products or services that have not yet been paid for. Bills and expenses are often used interchangeably with payables and refer to any amount owed by a company, whether it be for supplies, rent, or employee salary. Regardless of the terminology used, keeping track of payables is an essential part of running a successful business.