Discover the basics of account statements, including definitions, uses, features, and examples, to manage finances ...

Sometimes your customers or clients just don't pay what they owe. You will need to allow for or write off unpaid accounts receivable, and you need accurate records for taxes and financial statements.

Accounts receivable is part of the current assets section of the balance sheet. It represents the total amount due from customers. If the company decides that a specific amount is an uncollectible bad ...