Accounts receivable (A/R) is an accounting term that refers to money someone owes to a store or business. If you buy something from a store, but don’t pay them right away – the amount that you owe goes into the store’s accounts receivable record.

Most large companies have an entire accounts receivable department that is solely focused on keeping track of money owed to the company.

Tags: A/R, accounting, accounts receivable, credit, debt