Accounts receivable (AR) is the balance of money because of a company for items or offerings brought or used however not but paid for by customers.
Accounts receivables are indexed on the stability sheet as a current asset. AR is any amount of money owed with the aid of clients for purchases made on credit score.
Accounts receivable control is the system of ensuring that customers pay their dues on time.
It allows the companies to save you themselves from jogging out of working capital at any point of time. It also prevents past due payment or non-fee of
the pending quantities of the clients.
Here are some of the Ways to Improve Your Accounts Receivables process and thus help improve cash flow :-
- Raising Invoices from the System
- Multiple Online Payment Options
- Credit Control
- Regular Review of Accounts Receivables
- Follow-up of Overdue Payments
- Incentivize or Restructure Account Receivables
- Discounting / Factoring Accounts Receivables
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