Accounts Receivable

Accounts receivable is a legally enforceable claim for payment from a business to its customer/clients for goods supplied and/or services rendered in execution of the customer's order. These are generally in the form of invoices raised by a business and delivered to the customer for payment within an agreed time frame. Accounts receivable is shown in a balance sheet as an asset. It is one of a series of accounting transactions dealing with the billing of a customer for goods and services that the customer has ordered. These may be distinguished from notes receivable, which are debts created through formal legal instruments called promissory notes.
Posts about Accounts Receivable
  • FACTOR THE FACTOR IN FACTORING

    … What is factoring? Have you heard this term used in the business context? Factoring is not uncommon in the business world. It comes up when a business is in need of cash (immediate cash flow) and sells/assigns money owed under accounts receivable to a third party known as a factor. The factor purchases the accounts receivable at a discount…

    Florida Construction Legal Updates- 10 readers -
  • TARP Fraud Ripe For Whistleblower Lawsuits

    …), whistleblowers with information about anyone who does harm to an FDIC insured bank could earn up to $1.6 million in award money. Outgoing Attorney General Eric Holder has asked Congress to increase the monies available for FIRREA whistleblowers. Claiming an award under the False Claims Act involves filing a whistleblower lawsuit in federal court…

    Due Diligence- 13 readers -