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An account receivable is the total amount of payments a company has outstanding. Many businesses allow customers to purchase items on credit or with an invoice. They then have a set amount of time to pay the bill. These funds are part of the business's accounts receivable.What are the basics of accounts receivable?
Accounts receivable uses a sales ledger to record sales the business has made, the amount of money that has been received for services or goods, and the amount of money that is owed at the end of each month. The accounts receivable team is tasked with tracking and receiving funds on behalf of the company and applying it to current pending balances.What does the term accounts receivables mean?
Receivables, also referred to as accounts receivable, are debts owed to a company by its customers for goods or services that have been delivered or used but not yet paid for. Companies that allow customers to purchase goods or services on credit will have receivables on their balance sheet.