What Is Accounts Payable?

​The accounts payable process or function is immensely important since it involves nearly all of a company's payments outside of payroll.  Regardless of the company's size, the mission of accounts payable is to pay only the company's bills and invoices that are legitimate and accurate.   The amount of invoices paid daily within a company will depend on the size and activity.  Key items an Accountant should look for when reviewing invoices are rates, dates, descriptions and quantity.  These same items are reviewed by a company's internal control group in addition to ensuring the proper approvals were received before payments are processed.
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Source:  AccountingCoach

The question isn't who is going to let me; it's who is going to stop me." - Ayn Rand