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TeachMeFinance.com - explain Accounts Receivable accounts receivable -- amounts recorded as assets on the books of a company, institution or individual that are due, but have not yet been collected, from a debtor for the previous purchase of merchandise or services. another definition... Accounts Receivable -- The amount of money a business expects to receive for merchandise or services furnished by it to others on open account. another definition... Accounts Receivable -- On the part of a business, money expected for transactions in goods and services on open account. This is an important criterion in assessing a firm�fs liquidity, i.e., its capability to discharge current obligation without seeking supplementary revenue. historic definition... Account receivable -- An account which stands as a credit and to close which payment must be received. Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.