scope:

Purpose

A. This chapter provides the policies and related procedures of the accounts payable process. Accounts payable are recorded using the appropriate U.S. Standard General Ledger (USSGL) proprietary and budgetary accounts established by the U.S. Treasury Financial Management Service (Treasury). The provisions of this chapter implement applicable provisions of Statement of Federal Financial Accounting Standards (SFFAS) Number 1, "Accounting for Selected Assets and Liabilities."

B. Accounts payable does not include liabilities related to on-going continuous expenses such as employees' salaries and benefits covered by other current liabilities. Refer to Chapter 10 of this volume for further discussion on employees' salaries and benefits. Accounts payable also does not include amounts for contract holdbacks. Contract holdbacks map to the other liabilities line of the balance sheet.