Accounts receivable is an asset account in the general ledger (GL) that documents money owed to a business by customers who have purchases goods or services on credit.
By submitting your email address, you agree to receive emails regarding relevant topic offers from TechTarget and its partners. You can withdraw your consent at any time. Contact TechTarget at 275 Grove Street, Newton, MA.
Accounts receivable can be contrasted with accounts payable, a liability account in the GL that documents money the business owes for the purchase of goods or services.
Accounts receivable, accounts payable and payroll are usually listed as the top three mission-critical business processes in a disaster recovery plan (DRP).
Continue Reading About accounts receivable
Dig Deeper on General Ledger, Accounts Receivable and Accounts Payable Software