Accounts Payable Lingo [Test Yourself]

Do you speak accounts payable? Do you know what all the accounts payable terms or accounts payable abbreviations stand for? In this very short video we share 20
abbreviations or short cuts used in the accounts payable function and reveal what they mean. #Accountspayable, like many other #accounting functions has a language all its own, filled with jargon and special lingo. While we all know we shouldn’t use it, as it confuses others, somehow, it manages to slip in.

The accounts payable lingo or the accounts payable terminology is often strange to those who don’t use it everyday. That’s why we advise people not to use it, but somehow, many (myself included) can’t help ourselves and the accounts payable jargon we are all so familiar with slips in. That’s why we should ask outsiders, “do you speak accounts payable” before slipping into the accounts payable lingo or accounts payable jargon. It’s like accounts payable has a language of its own. Who knew there were so many different areas.

List of terms explained:
1. AP
2. P2P
3. ERS
4. T&E
5. ACH
6. P-card
7. TIN
8. W-9
9. 1099
10. AI
11. RPA
12. DPO
13. S-OX
14. SUT
15. VAT
16. YE
17. YTD
18. ME
19. P&L
20. 2/10 net 30

Link to watch Who Knew AP Was So Complicated (30 Topics)
https://youtu.be/UGFaUkiNPP0