Accounts receivable refers to the payments that are not yet cleared by the clients or it is also used to give a long-term credit to customers/clients. It helps in gaining customer loyalty and allowing them to take product/services on credit basis that helps in boosting sales. Here accounts receivable management plays a crucial role, as this is the responsibility of management to track the history of customer and recover payments on time. Watch this video about benefits and importance of accounts receivable management.
