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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. At YourLegal.org, we provide expert guidance on managing accounts receivable efficiently to protect your business’s financial health. Stay informed with our legal insights.
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