Accounts receivable also known as Debtors, is money owed to a business by its clients (customers) and shown on its balance sheet as an asset. It is one of a series of accounting transactions dealing with the billing of a customer for goods and services that the customer has ordered.
Read more about Accounts Receivable: Overview, Payment Terms, Accounts Receivable Age Analysis, Bookkeeping, Special Uses, Related Accounting Topics
Famous quotes containing the word accounts:
“But, on more accounts than one, I had had enough of moose-hunting. I had not come to the woods for this purpose, nor had I foreseen it, though I had been willing to learn how the Indian manvred; but one moose killed was as good, if not as bad, as a dozen.”
—Henry David Thoreau (1817–1862)