Page "Accounts receivable" Paragraph 9

Booking a receivable is accomplished by a simple accounting transaction ; however, the process of maintaining and collecting payments on the accounts receivable subsidiary account balances can be a full-time proposition.

Depending on the industry in practice, accounts receivable payments can be received up to 10 – 15 days after the due date has been reached.

These types of payment practices are sometimes developed by industry standards, corporate policy, or because of the financial condition of the client.