AR Account stands for “Accounts Receivable”. It is an asset that represents the amount of money owed by a customer to a business. When a customer purchases goods or services from a business, they have an obligation to pay their invoice on time. The AR Account tracks this activity and gives businesses insight into how quickly customers are paying their invoices. It also helps businesses identify any overdue payments, so that appropriate action can be taken. Utilizing an AR Account is an essential part of effectively running a business.