Accounting
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Boundless Accounting
Controlling and Reporting of Cash and Receivables
Accounting Textbooks Boundless Accounting Controlling and Reporting of Cash and Receivables
Accounting Textbooks Boundless Accounting
Accounting Textbooks
Accounting

Section 3

Overview of Receivables

Book Version 3
By Boundless
Boundless Accounting
Accounting
by Boundless
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4 concepts
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What Is a Receivable?

A receivable is money owed to a business by its clients and shown on its balance sheet as an asset.

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Types of Receivables

Receivables can generally be classified as accounts receivables or notes receivable, though there are other types of receivables as well.

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Recognizing Accounts Receivable

If you are operating under the accrual basis, you record account receivable transactions irrespective of any changes in cash.

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Valuing Accounts Receivable

Receivables of all types are normally reported at their net realizable value, which is the amount the company expects to receive in cash.

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