Accounts Receivable

An Accounts Receivable is a payment claim from an organization to its organization clients for items rendered in execution of a customer order.

• Context:
  • It can be managed by an Accounts Receivable Management Task.
  • …
• Counter-Example(s):
  • Accounts Payable.
  • Cash on Hand.
  • an ERP Task.
• See: Invoice, Balance Sheet, Accounting, Notes Receivable, Monetary Debt, Legal Instrument, Promissory Note, Accounts Receivable Software, Business Asset.

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References

2015

• (Wikipedia, 2015) ⇒ http://en.wikipedia.org/wiki/accounts_receivable Retrieved:2015-7-11.
  • Accounts receivable is a legally enforceable claim for payment held by a business against its customer/clients for goods supplied and/or services rendered in execution of the customer's order. These are generally in the form of invoices raised by a business and delivered to the customer for payment within an agreed time frame. Accounts receivable is shown in a 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. These may be distinguished from notes receivable, which are debts created through formal legal instruments called promissory notes.

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