Accounts Receivable Journal Entry Example
The Accounts Receivable process is the set of steps a business follows to invoice a client and collect payment. It’s essential for managing a smooth transition from sales to revenue and ensuring that a business maintains a healthy cash flow. Accounts Receivable, or AR, is the record of funds that customers owe to a business for goods or services rendered. The amount of money owed to a business from their customer for a good or services provided is accounts receivable.Additionally,...