Editing Accounts payable (section)

==Audits of accounts payable==
Auditors often focus on the existence of approved invoices, expense reports, and other supporting documentation to support checks that were cut. The presence of a confirmation or statement from the supplier is reasonable proof of the existence of the account. It is not uncommon for some of this documentation to be lost or misfiled by the time the audit rolls around. An auditor may decide to expand the sample size in such situations.

Auditors typically prepare an aging structure of accounts payable for a better understanding of outstanding debts over certain periods (30, 60, 90 days, etc.). Such structures are helpful in the correct presentation of the balance sheet as of fiscal year end.<ref>{{cite book|last=Elmore|first=Christopher|title=The 8 Pitfalls of Accounts Payable Automation|year=2011|publisher=CreateSpace|location=NC|isbn=978-1-4610-3996-9 |page=198|url=http://www.costperinvoice.com}}</ref>