Accounts Receivable Current Asset is officially defined as the money a business is owed for goods or services it has sold but have not yet been paid for by customers. For example, a company may sell products but the customer has not yet paid for them. These uncollected funds are listed as an asset in the business’ balance sheet and are often referred to as ‘open invoices.’ It is important for businesses to manage their accounts receivable carefully, as it can impact their cash flow and the overall success of their operations.