Trade payables are obligations to pay for goods or services that have been acquired from suppliers in the ordinary course of business. Trade payables are classified as current liabilities if payment is due within one year or less.

What type of account is trade payables?

Trade payables are nearly always classified as current liabilities, since they are usually payable within one year. If that is not the case, then such payables can be classified as long-term liabilities.

Is it account payable or payables?

"Accounts payable" (AP) refers to an account within the general ledger that represents a company's obligation to pay off a short-term debt to its creditors or suppliers.