Unpaid expenses refer to the costs incurred by a company that have been recorded in its books but have not yet been settled. These expenses are classified as liabilities on the balance sheet and are typically paid off in the future. It is important for businesses to track and manage their unpaid expenses in order to maintain a healthy financial position. This can be done through proper budgeting and cash flow management. By staying on top of unpaid expenses, companies can effectively plan for their future financial obligations.
