Accounts Receivable

Accounts Receivable is the amount of money owed by customers for goods or services that have been sold but not yet paid for. The accounts receivable process typically involves four steps: Establish credit policies to weed out customers who won’t pay you, Invoice customers once a customer purchases a good or service and agrees to pay you back at a later date, Track and monitor accounts receivable, Account for accounts receivable by recording the balances of the company’s accounts receivables by the accounts department