oboloo Glossary

Accounts Receivables Process

oboloo Glossary

Accounts Receivables Process

Accounts Receivables (AR) is a process that creates an essential part of a business’s financial foundation. It involves tracking and managing customer payments, optimizing cash flow, and increasing profits. AR requires finesse and discipline in order to maintain accuracy while responding quickly to customer queries. For example, if customers have questions about the terms of their invoices, or need assistance in resolving payment issues—AR professionals will help them quickly to ensure their needs are met and that their payments arrive on time. AR is crucial for businesses to stay financially strong and keep relationships with customers healthy.