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

    … increasing sales. The men used the fake accounts receivable to borrow money from UCB and later East West Bank after UCB went under in 2009. Fan has also been indicted but remains at large. FIRREA Claims Defrauding a federally insured bank can also pay whistleblowers. Under the FIRREA statute (Financial Institutions Reform Recovery and Enforcement Act…

    Due Diligence- 13 readers -