Accounts receivable

Q&A By UNIQUE BUSINESS IDEAS

Amounts owed to a company by customers or clients for goods or services sold on credit

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Recorded as assets on the balance sheet

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Typically have a due date and a payment term (e.g. net 30, net 60)

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Important for managing cash flow and tracking customer payments

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Can be managed using accounting software or a manual system

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Can be subject to credit checks, collections, or write-offs

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Can be used as collateral for short-term financing by factoring or discounting

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By UNIQUE BUSINESS IDEAS Scribbled Underline