Accounts Receivable
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Definition
Accounts receivable are legally enforceable claims for amounts owed for goods supplied and/or services rendered. These are generally in the form of invoices issued for payment within an agreed-upon time frame. It is the university’s responsibility to ensure payments for outstanding invoices are received timely and that transactions are recorded properly.
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Types of Accounts Receivable
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Central Accounts Receivable
Areas responsible for managing the university’s central accounts receivable include:
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