Accounting MascotAccounting Q&A

Is monthly rent an accounts payable?
submitted by Phil

d

No. Accounts Payable is for paying off short-term debts. Rent isn't considered a debt. Use Rent Payable, which is a liability.

Mike Czech

No. Rent is an expense and not an accounts payable.

Dre

I do not think she or he is asking, is rent an "Accounts Payable" exactly. I think he or she is trying to figure out if they should log rent paid for the month as " Rent Payable" or "Rent Expense"?

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