Accounts receivable refers to money owed by customers and clients for goods and services purchased on credit. Some debts may become uncollectible and need to be written off as a loss or recovered through collection efforts to regain amounts owed. Proper accounting of accounts receivable through tracking amounts due, write-offs, and recoveries ensures accurate financial reporting of an organization's credit sales and cash flows.
Accounts receivable refers to money owed by customers and clients for goods and services purchased on credit. Some debts may become uncollectible and need to be written off as a loss or recovered through collection efforts to regain amounts owed. Proper accounting of accounts receivable through tracking amounts due, write-offs, and recoveries ensures accurate financial reporting of an organization's credit sales and cash flows.
Accounts receivable refers to money owed by customers and clients for goods and services purchased on credit. Some debts may become uncollectible and need to be written off as a loss or recovered through collection efforts to regain amounts owed. Proper accounting of accounts receivable through tracking amounts due, write-offs, and recoveries ensures accurate financial reporting of an organization's credit sales and cash flows.