Accounts payable is commonly grouped into trade payables, accrued expenses, and other or non-trade payables. Provisions are a related but distinct liability category, while current versus non-current is a separate way to classify a liability for presentation. The labels an organization uses depend on its accounting framework and chart of accounts.
Common types of accounts payable and related liabilities
The categories are best distinguished by what created the obligation and whether it has been invoiced or formally agreed. They are common accounting distinctions, not a universal list of subledger names.
| Category | What created the obligation? | Invoice or agreement status | Useful distinction |
|---|---|---|---|
| Trade payable | Goods or services received or supplied in an ordinary-course supplier transaction | Invoiced or formally agreed with the supplier | A commercial debt arising from a normal business purchase |
| Accrued expense or liability | Goods or services already received or supplied; may also include employee amounts | Not yet paid, invoiced, or formally agreed | The obligation can be recognized before the invoice arrives; an estimate may be needed |
| Other or non-trade payable | An obligation outside ordinary-course supplier purchases | Varies by obligation | May include certain tax, dividend, or related-party amounts, depending on the reporting context |
| Provision | An obligation with uncertainty about the timing or amount of settlement | Not determined simply by invoice status | A distinct liability category; an estimate alone does not make something a provision |
Trade payables: invoiced supplier debts
IAS 37 paragraph 11(a), as quoted in the IFRS Interpretations Committee’s December 2020 update, defines trade payables as “liabilities to pay for goods or services that have been received or supplied and have been invoiced or formally agreed with the supplier”.
For example, an invoice for ordinary-course goods belongs in this category once the goods have been received and the supplier has invoiced or formally agreed the amount. The transaction’s ordinary business purpose and its documented status are both relevant.
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Accrued expenses: obligations recognized before invoicing
IAS 37 paragraph 11(b), reproduced in the Australian Accounting Standards Board’s AASB 137, defines accruals as “liabilities to pay for goods or services that have been received or supplied but have not been paid, invoiced or formally agreed with the supplier”. It notes that accruals can include amounts due to employees, such as accrued vacation pay.
Example: a utility bill that has not arrived
If a business has used a utility service during the reporting period but has not yet received or agreed the bill, the cost may be recorded as an accrual. When the bill arrives, the ledger may reconcile or reclassify the recorded amount; the exact process depends on the organization’s accounting system and policy. The UN Secretariat’s IPSAS Finance Manual, Chapter 14 discusses accounts payable and accrual balances for received goods and services that remain unpaid at reporting date in its Umoja context.
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Employee amounts and other accrued liabilities
Payroll-related amounts and vacation pay may appear among accrued liabilities, depending on the entity’s chart of accounts. This does not mean every organization records them in an account named “accounts payable.”
Other or non-trade payables
These are obligations that do not arise from ordinary-course trade purchases. Depending on the reporting context, examples can include certain taxes, dividends, or amounts owed to related parties. Statistics Canada’s 2010 chart-of-accounts reference and the AASB’s presentation examples illustrate classifications, but they do not establish a universal account structure. Use the applicable framework and chart of accounts to determine where a particular obligation belongs.
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Provisions are related, but not simply another type of payable
The AASB’s AASB 137 explains that provisions are distinguishable from trade payables and accruals because “there is uncertainty about the timing or amount of the future expenditure required in settlement.” Whether an obligation qualifies as a provision also depends on the relevant standard’s recognition criteria. Do not classify every estimated cost as a provision, or every provision as trade accounts payable.
Transaction type and statement presentation are different axes
Trade, accrued, and non-trade describe the origin or documentation of an obligation. Current and non-current classification addresses how a liability is presented under the applicable reporting rules. A payable is not automatically current just because ordinary supplier invoices are often settled soon; assess the reporting-date obligation using the relevant framework. The AASB’s AASB 101 material on structure and content includes presentation examples such as non-trade payables.
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How to classify a payable in practice
- Identify what created it. Was it a normal supplier purchase, a service already received, an employee obligation, or another kind of liability?
- Check the documentation. For goods or services, determine whether the amount has been invoiced or formally agreed. If not, but the goods or services have already been received or supplied, it may be an accrual.
- Assess uncertainty. If settlement timing or amount is uncertain, consider whether the provision category and its applicable recognition criteria are relevant.
- Apply the reporting presentation rules separately. Determine current or non-current classification under the relevant framework rather than treating it as a transaction type.
- Use the entity’s account structure. Confirm the chart of accounts and local requirements; account labels and grouping can differ.
Why labels vary
The definitions cited here draw on IAS 37 materials reproduced by the IFRS Interpretations Committee and the AASB. Other sources address specific contexts, including the UN Secretariat’s Umoja accounting and a Canadian chart-of-accounts reference labeled 2010. They support the distinctions above, but do not establish that every jurisdiction or organization uses identical labels or presentation requirements. For formal reporting, apply the entity’s current accounting framework and local rules.
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