“Cash is king.” No doubt every small business owner has heard that. That’s because a small business can’t survive without cash flow. All the great talent means zilch if you can’t pay them and your bills.
But what brings in the cash? Your accounts receivable, or A/R. Accounts receivable is an accounting term for what your clients owe you for the products or services you delivered. Your invoices are a generated accounts receivable. Until you submit your invoices to clients, you won’t get paid.