Also known as Account Receivables, the register is a list of debts owed by a company. Say for instance I charged you for providing this answer and then if you asked me an example of what my Receivables looked like, I charged you for that too. My receivables list, which my accountant would also record on the balance sheet would include the cost of these two services.
For example…
Let’s say Sam owns a bed and breakfast in the country. He has both hotel rooms as well as conference rooms and has arranged for two companies to accommodate their staff and attend a conference for the weekend. His Receivables would include items like boarding fees, room service bill’s, cafe and laundry service bills as well as the fees for using the conference room, for each company by the end of the weekend. If the two companies book another conference weekend six months from now, the boarding fees for accommodation and conference facilities would also be in the Receivables.
