Receivables is a line item under current assets on a company's balance sheet, signifying amounts due to the company. These amounts are typically expected to be collected within the 12 months following the balance sheet date. This category encompasses money owed by customers, clients, or other entities, often arising from sales of goods or services on credit terms.
The reported figure for Receivable is usually presented net of allowances for doubtful accounts. This means that the company has already accounted for and deducted the estimated uncollectible amounts, providing a more realistic view of the receivables that the company expects to convert into cash.