What does the hotel’s AR account mean?

"Account receivable" means accounts receivable. In layman's terms, it means that the customer's consumption is owed first, and then it is settled when it accumulates to a certain amount. Before settlement, this part of the money is called accounts receivable.

Professional AR settlement is based on reconciling all accounts receivable that occurred within a certain period, summarizing and summarizing according to the prescribed method, calculating and recording the current period's amount and the ending balance. Corresponds to AP (accounts payable) accounts payable.

Accounts receivable are often reached by signing consumer agreements between some trustworthy companies and our store. It can be settled monthly or quarterly, which is very convenient for everyone. However, the store must make an effective and accurate assessment of the creditworthiness of these agreement companies, which can be settled monthly or quarterly.