Accounts Payable

Accounts Payable in United States

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Accounts Payable in the Federal Budget Process

Meaning of Accounts Payable in the congressional and executive budget processes (GAO source): Amounts owed by a federal agency for goods and services received from, progress in contract performance made by, and rents due to other entities. This is a proprietary (or financial) accounting term. For balance sheet reporting purposes, according to OMB Circular No. A-11 “accounts payable” consists of the amount owed by the reporting entity for goods and services received from other entities, progress in contract performance made by other entities, and rents due to other entities. (See also Accounts Receivable; Proprietary Accounting; app. III.)

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Further Reading

  • Legislatures and the budget process: the myth of fiscal control

    (J Wehner, 2010)

  • Reconcilable Differences?: Congress, the Budget Process, and the Deficit (JB Gilmour, 1990)
  • Fiscal institutions and fiscal performance

    (JM Poterba, J von Hagen, 2008)


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