Hi,

Both are accounting terms. Let’s understand first to “Trade payable” (TP).

Trade Payable refers to a general ledger account of an identified vendor or supplier in the books of the company. The company has made transactions with them for the supply of goods/services and has some outstanding balances to pay in accordance with the terms of payments/agreement.

Since the company has the obligation to pay them they called creditors or trade payable. These are shown in the liability side of the balance sheet of the company.

Now come to Expenses Payable, Technically they’re also the liability of the company and shown in the liability side of the balance sheet.  Generally, they belong to unidentified parties. It is also not confirmed that whether the company will require an outflow of economic benefit to settle their obligation in near future.  This means either the creditor is not identified or the obligation to payment of the outstanding amount is not confirmed.  For example, in the “Provision of an expense” here neither the party is identified nor the obligation is confirmed. When the party is identified or payment of obligation is confirmed the outstanding amount is transferred to the creditor’s account.

Hope it clears the terms. There may be different opinions also.