When listing the accounts payable line item in the Balance Sheet - What if at the point when preparing the report I still don't know the amount of the outstanding invoices that my vendors will be issuing. It happens in my case as the invoices are based on the previous cycle performance/consumption and only few weeks into the following month the various vendors issue the invoice. During the waiting time I can not tell and/or estimate the final number. What should I do in such scenario?
Until the point in time your vendor issues an invoice and you enter it as a bill you have no activity in accounts payable. That account is populated only when you enter bills. Do nothing until you have invoice in hand