Accounts Receivable

It is imperative to be fully aware of where money in a business is going and where it is coming from. Accounts receivable allows business owners to witness the flow of their money before, during, and after the billing process. 

Accounts receivable, also known as an asset account, is the money that is due from a client for services rendered to them by a business. This money has not yet been paid, but has a due date and is expected to be paid by the client. In the healthcare field, an example of this would be rounding up the costs of services provided to a client (ensuring that their insurance covers as much as possible) and then billing them the remainder that they owe.