How do you define accounts receivable?

Answer by  patti (29325)

"Accounts receivable" are the business's accounts with balances owing. The business invoices customers or clients for products or services. Those invoices are accounts receivable. When payments are submitted, the funds are credited to the customer/client account.

Answer by  justin80 (11)

I would define accounts receivable as a department within a company that is in charge of requesting and receiving payments from customers or clients.