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Accounts payable is the total amount of debt the company has to pay to its creditors for goods or services bought on credit. On the other hand, accrued expenses is the total liability that is payable for goods and services that have been received but not been billed. Accounts payable are recognized on the balance sheet when the company buys goods or services on credit. Accrued expenses are realized on the balance sheet at the end of a company's accounting period, when they are recognized by adjusting journal entries in the company's ledger.
Aged accounts payable reports are the opposite of aged accounts receivable reports. An accounts receivable aging report allows you to view the balances that are owed to your company by customers. Similarly, an accounts payable aging report allows you to view the balances you owe to other companies for supplies, inventory and services your company receives.