Final answer:
To pay outstanding bills, the accounts payable list must be accessed and managed, which is integral to good financial management and maintaining a business's credit standing.
Step-by-step explanation:
In order to pay outstanding bills, it is necessary to access the accounts payable list. This list is an accounting record that tracks all outstanding payments due to vendors and other creditors. When it's time to pay the bills, reviewing the accounts payable ensures that all debts are recognized and managed properly. Payments should be made according to the terms and conditions agreed upon with the suppliers to maintain a good credit standing.
It's important to note that consistent and careful management of this list can also lead businesses to take advantage of potential discounts for early payments and avoid late fees. This accounting practice is a fundamental component of good financial management for any business entity, large or small.