Accounts receivable is one of a sequence of financial accounting transactions dealing with the billing of a customer for goods and services he/she has considered. In most business entities this is usually done by generating a statement and mailing or automatically delivering it to the customer, who in turn must pay it within a recognized time-frame called “creditor expense terms.”

Account receivable means money which is billed to a company by a customer for products and services provided on credit. This is treated as an existing asset on a balance sheet. A detailed sale is normally only treated as an account receivable after the customer is sent an invoice.

While booking a receivable is proficient by a plain financial accounting transaction, the procedure of maintaining and collecting payments on the accounts receivable subsidiary account balances can be a full time proposal. Depending on the industry in practice, accounts receivable payments can be acknowledged up to 10 – 15 days subsequent to the due date has been reached.

It can be quite daunting to choose whether you need an accounting suite or stand alone payroll software for your company. There are several payroll systems available that can take care of business needs ranging from small business to larger enterprises. All you need to do is to take a look around and make the right choice. You can choose from accounting suite such as Peach tree, QuickBooks, etc. If you are small business owner and has limited knowledge of computer and finance, stand alone software, such as ezPaycheck from halfpricesoft.com, may be a better choice.

Step 1: Assess Your Needs

Custom accounting software is a crucial business tool, as anyone who has ever tried to run a growing business with inferior bookkeeping technology can attest.  If you own or work for a business that is rapidly gaining clients and employees, you know that staying abreast of necessary accounting tasks can be challenging and overwhelming.  MBA Software and Consulting’s “Series 3″ line of custom accounting software can help bring your books under control—and, better yet, it can do so at a price-point your company can afford.

MBA Software and Consulting is a Minneapolis-based software developer and business consultancy, with over thirty years of experience developing custom accounting software for business.  MBA’s current custom accounting software product, Series 3, is the result of decades of constant refinement and research into the needs of medium-sized, growing businesses.  It is fully-featured, extremely scalable, and entirely capable of simplifying your books, and enhancing your business.