Keyword Analysis & Research: accounts receivable meaning

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Frequently Asked Questions

What does the term accounts receivable refers to?

The phrase refers to accounts a business has a right to receive because it has delivered a product or service. Accounts receivable, or receivables represent a line of credit extended by a company and normally have terms that require payments due within a relatively short time period, ranging from a few days to a fiscal or calendar year.

What is the purpose of accounts receivable?

Accounts receivable is a common account used by company accountants to track revenue earned but not yet collected. It is a balance of money owed to the business by buyers who make purchases on account and agree to pay later. Collecting payments on account in a timely manner is important to financial efficiency for a business.

What are the goals of accounts receivable?

The ultimate goal of accounts receivable: to increase working capital. Companies have traditionally viewed accounts receivable as a basic function. They are beginning to realize, however, that improving the process can lead to significant financial gain for the company.

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