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  2. Accounts receivable - Wikipedia

    en.wikipedia.org/wiki/Accounts_receivable

    Accounts receivable represents money owed by entities to the firm on the sale of products or services on credit. In most business entities, accounts receivable is typically executed by generating an invoice and either mailing or electronically delivering it to the customer, who, in turn, must pay it within an established timeframe, called credit terms [citation needed] or payment terms.

  3. Dunning (process) - Wikipedia

    en.wikipedia.org/wiki/Dunning_(process)

    Dunning is the process of methodically communicating with customers to ensure the collection of accounts receivable. Communications progress from gentle reminders to threatening letters and phone calls and more or less intimidating location visits as accounts become more overdue. Laws in each country regulate the form that dunning can take.

  4. Record to report - Wikipedia

    en.wikipedia.org/wiki/Record_to_report

    Record to report or R2R is a Finance and Accounting (F&A) management process which involves collecting, processing and delivering relevant, timely and accurate information used for providing strategic, financial and operational feedback to understand how a business is performing. [1]

  5. How Accounts Payable Are Recorded on a Balance Sheet - AOL

    www.aol.com/accounts-payable-recorded-balance...

    If you want to report an accounts payable in your balance sheet, use these two steps as a guide: Receive the bill. After accepting goods or services from a vendor, you’ll likely receive a bill.

  6. Debt collection - Wikipedia

    en.wikipedia.org/wiki/Debt_collection

    Debt collection or cash collection is the process of pursuing payments of money or other agreed-upon value owed to a creditor. The debtors may be individuals or businesses. An organization that specializes in debt collection is known as a collection agency or debt collector. [1]

  7. Lockbox (accounts receivable) - Wikipedia

    en.wikipedia.org/wiki/Lockbox_(accounts_receivable)

    In banking, a lockbox is a service offered to organizations by commercial banks to simplify collection and processing of accounts receivable by having those organizations' customers' payments mailed directly to a location accessible by the bank.

  8. Debits and credits - Wikipedia

    en.wikipedia.org/wiki/Debits_and_credits

    Each account can be broken down further, to provide additional detail as necessary. For example: Accounts Receivable can be broken down to show each customer that owes the company money. In simplistic terms, if Bob, Dave, and Roger owe the company money, the Accounts Receivable account will contain a separate account for Bob, and Dave and Roger.

  9. Controlling account - Wikipedia

    en.wikipedia.org/wiki/Controlling_account

    Individual transactions are posted both to the controlling account and the corresponding subsidiary ledger, and the totals for both are compared when preparing a trial balance to ensure accuracy. For example, "accounts receivable" is the controlling account for the accounts receivable subsidiary ledger. In this subsidiary ledger, each credit ...

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