Wiki article on Kontokorrent, section on "Lieferanten":

I think this should be it, a related party, as correctly defined by Johanna, that has as a supplier or something a current account with the company preparing the financial statements (preparer/reporting entity).

From the reporting entity's perspective the credit period obtained from the supplier from receipt of the supplier's goods up to payment/debiting of the amount from the current account kept with the supplier is considered short-term borrowings (which you, Wendy mention in the first sentence of the question) and thus classified under liabilities (debt = money owed to third parties).

If the source is financial in nature (sometimes checking accounts play a part for providing the basis for investment as the funds played around with need to come from somewhere with the quickness once an investment opportunity arises) or banking-related (where XXX would be a bank that provides the preparer/reporting entity with a current account (called a checking account in the U.S.)), that doesn't void the translation provided as it then still fits. This scenario would only void the explanation. Please note: I find the investment scenario rather unlikely, but the banking one is conceivable.

The IMO most likely interpretation is the one posted as an answer.



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Note added at 2 hrs (2014-08-31 18:54:34 GMT)
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A short-term loan granted by a shareholder (or maybe a partner if a prosperous Partnership as financial statements are usually not prepared by small, less successful businesses) to the reporting entity is also conceivable.

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Note added at 2 hrs (2014-08-31 18:56:10 GMT)
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"Wiki article on Kontokorrent, section on "Lieferanten" should obviously go at the end of the explanation.

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Note added at 2 hrs (2014-08-31 19:00:54 GMT)
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A short-term loan granted by a shareholder to the reporting entity is the most likely interpretation - I think, as this last aspect, i.e. what the actual underlying scenario is, I'm not sure about.