Accounts Receivable

Accounts receivable refers to money that a person is owed, as opposed to money a person owes to someone else (known as an “account payable”). Most frequently, the term “accounts receivable” is used in the context of businesses, and refers to the moneys owed to a company by its customers for the value of goods and services the company already has provided. In and of itself, having accounts receivable isn’t necessarily a problem. The trouble comes when a company’s accounts receivable reaches a size that hinders the company’s ability to pay its own bills, and to grow. There is no single solution to the accounts-receivable dilemma. Some companies prefer to write-off old debts, while others choose more aggressive means of seeking what is owed, like filing a collections lawsuit. If you believe your business has a problem with accounts receivable that are hindering your company’s well-being, it may be time to speak with an account collections lawyer to discuss your options. Contact The Flynn Law Firm today to speak with an attorney experienced in transforming accounts receivable into accounts paid in full.