This form allows to rename built-in Accounts receivable account.
To access this form, go to Settings, then Chart of Accounts, then click Edit button for Accounts receivable account.
The form contains the following fields:
Enter the name for this control account that tracks amounts owed by customers.
The default name is Accounts receivable but you can customize it to match your business terminology.
This account aggregates all unpaid customer invoices and is crucial for managing cash collections.
Enter an optional account code to organize your chart of accounts systematically.
Account codes help with sorting accounts and can follow your existing numbering system.
Common codes for accounts receivable range from 1200-1299 in many accounting systems.
Select the balance sheet group where this asset account should appear in financial reports.
Accounts receivable typically belongs under current assets as these are short-term receivables.
The grouping affects how your balance sheet is organized and subtotaled.
Select how changes in accounts receivable should be classified on the cash flow statement.
Increases in accounts receivable represent cash not yet collected (negative cash flow from operations).
Decreases indicate cash collected from customers (positive cash flow from operations).
This classification is essential for accurate cash flow analysis using the indirect method.
Click Update button to save your changes.
This account cannot be deleted, it is automatically added to your Chart of Accounts when you have created at least one customer.
For more information see: Customers