Accounts Receivable
- Topics:
- Payables and Receivables
- Source:
- CCH
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Overview: Accounts receivable are unpaid customer invoices, and any other money owed to the organization by customers. The sum of all customer accounts receivable is listed as a current asset on balance sheet. The accounts receivable ledger, which can also double as a customer statement, is a record of each customer's charges and payments. It explains to keep an accounts receivable ledger account for each customer. It records the entry related to credit sales and purchases of each customer. This allows to know not only the total amount owed to you by all credit customers, but also the total amount owed by each customer. In other words it states the working and maintenance of accounts receivable ledger which is helpful in preparing accounts of an organization.
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Format: HTML | Date: Jan 2003 | Pages: 1
