Accounts Receivable

A record of the money that other people and businesses owe to you. https://getsling.com/blog/business-terms/

Refers to the money owed to a business by its customers or clients for goods or services that have been sold or rendered but not yet paid for. It is considered an asset on the company’s balance sheet and represents a short-term claim that will be converted to cash once the customer or client pays the outstanding invoice. Accounts receivable can include invoices, bills, or other forms of documentation specifying the terms of the transaction, such as the amount owed, due date, and payment method. Managing accounts receivable is an important part of a business’s financial management, as it can impact cash flow, working capital, and customer relationships.

An example of accounts receivable in business coaching could be the payment due from a client for coaching services rendered but not yet paid for. The coach may invoice the client for the cost of the coaching engagement on a monthly or project basis, and the client would be responsible for paying the amount owed within the payment terms specified in the contract. Managing accounts receivable efficiently can help the coach maintain a positive business relationship with the client and ensure timely payment for services rendered.

Accounts Receivable DEFINITION:

1. Money that a company is owed by its customers or clients for goods and services provided but not yet paid. 2.Money that a company expects to receive from its customers or clients for goods or services already provided.

Accounts Receivable QUOTE:

1. "Accounts receivable: the lifeblood of a business, driving growth and ensuring financial stability." 2. "Accounts receivable is like waiting for a date to pay you back - you provided the service, now where's the money?"