Glossary
Receivables (customer debts)
Receivables are the amounts you sold to customers on credit and have not yet collected, money that is yours but sits with other people.
What it means for a shop owner
They count among the shop's assets but they pay neither rent nor supplier until collected. The longer a debt waits the smaller the chance of collecting it, so review the list weekly and start with the oldest and biggest.
A worked example
Three customers owe 400, 250 and 150. Total receivables = 800, and the 400 comes first to chase if it is the oldest.
Related
- Customers and receivablesSend customer debts on WhatsApp
- Customer debt bookCustomer debt tracker: who owes you, since when, and a reminder
- Debt agingDebt aging: definition and example
- Statement of accountStatement of account: definition and example
- Credit limitCredit limit: definition and example
- Payables (supplier debts)Payables (supplier debts): definition and example
Try it in your shop, free, no card.
The free plan: the whole shop for one branch, an offline cashier with stock, debts and accounting, with a daily limit on invoices, expenses and purchase orders. What it includes