Accounts Receivable
Accounts Receivable (alternatively known as Accounts Receivable account, A/R account, or Accounts Receivable controlling account) is the Accounts Receivable account in the general ledger, after postings are complete, shows a firm the total amount of money owed to it. This figure is broken down in the accounts receivable subsidiary ledger, where it indicates specifically who owes the money.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
