What is accounts receivable? Meaning and explanation

In accounts receivable, every sales invoice is recorded under the customer's name, with invoice number, date, amount and due date. Payments received are reconciled against the invoices, including partial payments and credit notes. The total of all open sales invoices appears on the balance sheet as trade receivables. The records also provide an ageing analysis: which invoices are overdue and for how long.

For a firm, a client's accounts receivable is directly linked to its cash position. Late reminders, unreconciled payments and doubtful debts that go unnoticed give an overly positive picture of the figures. At year-end, it must be assessed whether a provision for bad debts is needed, and that is only possible with an up-to-date list of open items.

Autoboeker processes sales invoices for all four connected packages and matches and reconciles payments received in Exact Online, Twinfield and SnelStart, including partial payments and credit notes. With the invoicing module, your client creates invoices in the client portal, with payment via iDEAL through Mollie and automatic reminders for open invoices. Every invoice sent appears directly in the administration.