Balance Sheet Accounts Receivable, often referred to simply as AR, is a record of all the money owed to an organization by its customers. This record consists of the total amount customers owe, broken down into individual invoices in order to better track and manage accounts. AR is an important part of maintaining a healthy financial position for any business or organization. It’s essential to monitor with accuracy and consistency so that you can make sure your organization collects what it’s due on time and in full.