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:
“No common-place is ever effectually got rid of, except by essentially emptying one’s self of it into a book; for once trapped in a book, then the book can be put into the fire, and all will be well. But they are not always put into the fire; and this accounts for the vast majority of miserable books over those of positive merit.”
—Herman Melville (1819–1891)