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What is Accounts Receivable, and How Zil Money helps?

<p><strong>What is Accounts Receivable? </strong></p>
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<p>Accounts receivable is the amount of money held by an entity as loan to be paid back. This means that if the company has made a purchase on credit, it records its account receivables as current assets and the customer has to pay it back. Zil Money offers an all-in-one online platform that makes it easy for people and businesses to move and manage their money. It also offers ACH, wire transfer, eChecks, Checks and several other features to make your transaction easier.</p>
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<p><strong>Zil Money an All-in-One Online Platform </strong></p>
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<p>Zil Money enables users to connect multiple bank accounts and check formats on their platform. It helps detect fraud while supporting multiple banks. They integrate with more than 22000+ banks, which will help users to detect fraud and support multiple banks. Zil Money has several ways to pay and receive money without transaction fees. Such as eChecks, ACH, or wire transfers. It also provides checks that can be sent by mail for free via USPS for 1$. Users not only can connect to multiple bank accounts, but they can also check the formats of those banks from their platform.</p>
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<p><strong>Account Payable Stands for? </strong></p>
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<p>Accounts payable are the amount of money a company owes to its creditors for goods and services that have been received but not yet paid for. Accounts payable is a liability account, which means that it represents money that the company owes to others. Accounts payable are different from Accounts Receivable , which represents money that is owed to the company by its customers. Accounts payable are usually due within 30 days, while accounts receivable may not be due for several months. Zil Money helps businesses process their accounts receivable and accounts payable in a secure and reliable way. Zil Money provides eCheck, printable check, ACH , or RTP via SMS or email for online or recurring payments. Zil Money makes it that customers pay their dues on time. You can also keep track of your clients’ dues in one place and avoid late fees.</p>
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<p>Accounts receivable can describe a sum of money that is owed to a business by one of its customers. If a company has offered its clients terms under which any purchase can be made with payment due on receipt, then such accounts are known as AR. In most cases, there will be some kind of credit limit for each specific customer - this is when an offsetting credit balance may appear on the company’s ledger.</p>
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<p><strong>Accounts Payable Are Recorded as Liabilities </strong></p>
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<img width="472" src="https://s3.fr-par.scw.cloud/r-upload-1/7488/Checks-To-Go-OCW.png">
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<p>Accounts payable are recorded in the accounting period in which the expense is incurred, even if the bill is not paid until the next period. This means that Accounts Payable appears on the balance sheet as a short-term liability. Accounts payable is one of the most important liability accounts because it represents money that the company owes to its suppliers for inventory and other expenses. If a company does not pay its accounts payable, it may default on its obligations and be unable to obtain new inventory or pay its employees. As a result, it is important for companies to manage their accounts payable carefully and make sure they have enough cash on hand to pay their bills when they come due.</p>
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<p>Zil Money is a new online payment platform that offers customers the ability to send money to anyone with the click of a button. ZilMoney.com helps pay bills, or buy groceries.</p>
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Website: https://zilmoney.com/accounts-receivable/