Accounts Payable Aging

By PRETTY BOOKS ON August 13, 2020
Metaphorical definitions of complex accounting terms.

The accounting language is filled with highly technical words and phrases that describe the highly technical job functions of an accountant. The ACCRUED DICTIONARY is a collection of common terms accountants use broken down into easy-to-understand metaphors, jokes, and whimsy. The dictionary cuts through the technical jargon and gives you a metaphorical perspective at what these words mean

Accounts Payable Aging

Verb. [uhkount-s•pey-uh-buh l•eyj-eeng]
  1. Accrued Dictionary definition: The process of a bill growing older beginning at its adolescence (30 days) to adulthood (60 days) to its elderly years (90+). Bills that are past their prime are sent to nursing homes where they are cared for by accountants who bring them flowers, listen to their stories and make sure they know they’re remembered, even if life gets in the way of visits from loved ones.

     // “This bill’s over the hill on the accounts payable aging report. It’s time to pay it.” 

  1. Textbook definition: Accounts Payable Aging is a report that includes all of the expenses that a business has incurred but has not yet paid. This account is recorded as a liability on the Balance Sheet as it is a debt owed by the company. As the bills pass their due dates, they age.

     // “In accounts payable aging, an overdue bill appears older than a new bill.”

Share this article

The information provided in this post is for general informational and educational purposes only and is not a substitute for professional advice. Consult your financial, business, or tax advisor with respect to matters referenced in this post. Pretty Books assumes no liability for actions taken in reliance upon this information.
Sign up for our newsletter.