Accounts receivable refers to the outstanding payments a business is owed by its customers for goods or services provided on credit. It is a crucial part of a company’s cash flow, ensuring smooth financial operations. Effective accounts receivable management helps businesses maintain liquidity, reduce bad debts, and improve profitability. Timely invoicing, clear payment terms, and follow-ups on overdue payments are essential practices. Monitoring accounts receivable ensures financial stability and supports business growth. https://yourlegal.org/usa/
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