oboloo Glossary

Accounts Receivable Processes

oboloo Glossary

Accounts Receivable Processes

Accounts receivable processes involve managing and collecting money owed by debtors to an organization. This includes creating invoices, recording payments received, reconciling accounts, and identifying any discrepancies or issues that need to be addressed. It also involves tracking debtor information such as contact details, payment plans and any overdue payments. All of these steps help ensure organizations get paid on time and maintain accurate records of their receivables.