From the perspective of a small business owner, whats the difference between accounts payable amp; liabilities? -

Both are negitive.Accounts payable usally denote what you pay out each month to stay in business. ( Like the monthely payment for a lease.)Liabilty, is the gross of all of your costs. Like leases totals. ( A year, or more.)Get a small/cheap book at the book store on business accounting..You need some help with the basics.Good luck.