Payable


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Payable

Justly due; legally enforceable.

A sum of money is said to be payable when a person is under an obligation to pay it. The term may therefore signify an obligation to pay at a future time, but when used without qualifi-cation, it ordinarily means that the debt is due to be paid immediately.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

payable

1) adj. referring to a debt which is due. A debt may be owed, but not yet payable until a certain date or event. 2) n. a debt which is due. "Payables" are all the liabilities (debts) of a business.

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
References in periodicals archive ?
Moreover, the President said that henceforth, documented accounts payable which remain outstanding for at least two years, for which no actual administrative judicial claim has been filed, shall be subject to automatic reversion.
'In the event that reverted accounts payable are subsequently validated by competent authorities or by final and executory decisions, Section 3 of the order said 'the funding therefore shall be determined by the Department of Budget and Management (DBM) subject to the applicable laws, rules and regulations.'
On July 31, 2017, the payable is adjusted to fair value based on the current spot rate (1.1842), and the corresponding $4,160 exchange loss is recognized in earnings.
The finance ministry's report put the payables to oil and gas sector at Rs103bn, including Rs89.4bn to Pakistan State Oil (PSO).
A third type was a "haircut" trust, in which the employee had the power to demand part or all of the funds at any time as long as he or she accepted a percentage discount of the total otherwise payable. A fourth variation involved an otherwise standard form of common-law trust that was settled under the laws of a foreign tax-haven jurisdiction, with the funds deposited in a local bank in that tax haven.
** If GST is paid on or after July 1, 2006, without having become payable before that day, the six per cent GST rate will apply.
of Little Rock has declared a regular quarterly dividend on its common stock of 38.5 cents, payable July 3 to stockholders of record as of June 9.
This offering marks ADP's entry into providing services to the accounts payable market.
Savings from outsourcing generally range from 25 percent to 50 percent annually, according to David Schnitt, president of IQ BackOffice, which specializes in handling accounts payable and other critical labor-intensive accounting processes.
tax under this Division in respect of the supply, calculated on the value of that consideration or part, as the case may be, is payable on that day.
"Very few companies have one integrated system--they might have a human resources system for payroll, an accounts payable system that makes payments, a system that does purchases, and another system that keeps track of intellectual property" O'Connell said.