Accounts Receivable
Accounts receivable process made easy by Online Check Writer. Our platform helps you receive your money with 100 percent of the face value without any transaction fees. You can get paid instantly by requesting E-checks, Printable checks, ACH, and RTP via SMS or email in one-click or recurring. Compared to credit cards and paper checks, the platform saves you a lot of money and time. Switch to Online Check Writer and process accounts payable and receivable effortlessly with our all-in-one platform. Pay and Get paid by Digital checks, Printable checks, eChecks, ACH, RTP, and one-click check mailing without any transaction fees.
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Accounts Receivable Definition
Accounts receivable (AR) are the balance of money held by an entity for goods or services delivered or used. AR is listed on the balance sheet as current assets. AR is the amount that users have to pay for purchases made on credit. Companies record account receivables as assets on their balance sheets because the customer has a legal obligation to repay the debt. In addition, AR is current assets, i.e., the balance is due one year or less from the debtor. If a company has accounts receivables, it has made a sale on credit but has not yet collected money from the buyer. The company received a short-term IOU from its client.
YOUR PERFECT ACCOUNTING SOLUTION
- Cutting Cost by Allowing Businesses to use Blank Check Stock over Pre-Printed Checks.
- A single platform to connect all your bank accounts.
- Accept Payments by Phone, Email, Fax & more.
- Detecting Fraudulent Checks
- Send Checks via Postal Service.
- Managing Payrolls.
Manage your Accounts Receivable
Online Check Writer helps simplify your accounts receivable management by providing your clients with a highly secured platform. You can get paid instantly by requesting E-checks, Printable checks, ACH, and RTP via SMS or email for one-time or recurring payments. This process ensures that the customers are paying their dues on time. Also, you can track clients’ dues in one place and prevent overdue or non-payments. By adequate account receivable management, you can effectively process your credit and improve your account receivable turnover.
Save Money with no Transaction Fees
Switch to Online Check Writer and save much money without any transaction fee. Let’s say you have 100 apartments at $1000 rent, and you could easily save $3000 to $4000 in transaction fee per month with a smooth and timely transaction through Online Check Writer.
ADDITIONAL FEATURES
Add employee with limited access
Keep track of everything with smart reports
Request via email for free
Automate accounts receivable through email
Print deposit slip on white paper on any printer
Make all incoming checks deposit online and keep track of it
Add employee with limited access
Keep track of everything with smart reports
Request via email for free
Automate accounts receivable through email
Print deposit slip on white paper on any printer
Make all incoming checks deposit online and keep track of it
FREQUENTLY ASKED QUESTIONS
Is accounts receivable an asset?
Accounts receivable is an asset, and it is on the left side of the balance sheet. It is the amount of the money owed to your company, typically from your customers, and this will be converted to cash later. When your company sells a product or service on credit, the amount of money owed by your customer is called accounts receivable.
What is accounts receivable?
Accounts receivable is the amount of money owed by your customer to your company for the purchases they made on credit. It is consider as an asset on your balance sheet. AR are created only when you sell your product or service on credit.
How to calculate accounts receivable?
Accounts receivable is calculated as an asset on your left side of the balance sheet. 1. Add all the sales and services you made on credit 2. Calculate and reconcile with the charge accounts to make sure 3. You can also find the average AR by dividing the number of credit charges made. 4. To Find the turnover ratio divide the total credit sales by the average AR. The turnover ratio gives you the successful ratio of AR payments collection from your customers.
Is accounts receivable a debit or credit?
Accounts receivable is a debit or credit. When someone pays you towards your accounts receivable, this will increase the debit side and decrease your credit side. This cash payment will reduce your AR and raise cash on hand or bank.
Accounts Receivable vs Payable
Accounts receivable is the amount of the money your customers owe to your organization, whereas AP is the amount of money that your organization owes to the supplier or vendors. In short, AR you something you claim on others, and AP is something others claim on you. Another way we can say AR is an asset on the left side of the balance sheet and AR is a liability on the balance sheet.
Accounts receivable vs Notes receivable
Notes payable are agreements of loan payments between you and your lender. It is a loan Arrangement or a debt arrangement. Accounts receivable is the amount of the money your customers owe to your organization. Both are opposite in nature. One you owe the other one someone owed to you. AR is an asset on your balance sheet, whereas notes payable is a long-term liability on your balance sheet. Notes payable can be a short-term liability too. AR generally your customers owe to your company, but the notes payable generally your company owes to a financial institution like Banks or credit card companies. Accounts receivable always play an important part in the working capital, but the notes payable usually do not count against the working capitals.
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