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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. Debt collection - Wikipedia

    en.wikipedia.org/wiki/Debt_collection

    A debt collection bureau in Minnesota. 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]

  4. 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.

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

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

    In contrast, accounts receivable are considered an asset. That’s because accounts receivable represent funds other companies owe the organization. Suppose a souvenir company purchases $1,000 ...

  6. Debtor collection period - Wikipedia

    en.wikipedia.org/wiki/Debtor_collection_period

    Debtor collection period = ⁠ Average debtors / Credit sales ⁠ × (average debtors = debtors at the beginning of the year + debtors at the end of the year, divided by 2 or Debtors + Bills Receivables) The average collection period (ACP) is the time taken by businesses to convert their accounts receivable (AR) to cash.

  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. General ledger - Wikipedia

    en.wikipedia.org/wiki/General_ledger

    In bookkeeping, a general ledger is a bookkeeping ledger in which accounting data are posted from journals and aggregated from subledgers, such as accounts payable, accounts receivable, cash management, fixed assets, purchasing and projects. [1]

  9. Accounting software - Wikipedia

    en.wikipedia.org/wiki/Accounting_software

    Bookkeeping—where the company records collection and payment; Financial close management — where accounting teams verify and adjust account balances at the end of a designated time period; Non-core modules [citation needed] Debt collection—where the company tracks attempts to collect overdue bills (sometimes part of accounts receivable)