Accounts Receivable

As an essential component in accounting and finance, Accounts Receivable represents the outstanding payments that a business is yet to receive from those who have purchased goods or services on credit. It constitutes a significant portion of a company's total assets and plays a crucial role in effective cash flow management. Understanding the nuances of Accounts Receivable is essential to maintaining financial health and maximizing profitability.

The AR module enables users to:

• Post cash receipts, either individually or in batches

• Allocate receipts

• Delete receipts

• Approve batches

• Undo allocations

• Post Nominal A nominal account is a general ledger account that you close at the end of each accounting year. Adjustments (General and Finance Charge Adjustments, Bad Debt).