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Accounts is a term that covers a wide variety of subjects, such as bank accounts, trust accounts, and others. In business accounting, accounts may be characterized as accounts payable, which is money that is owed by a business to be paid to another, or accounts receivable, which is a debt owed to an enterprise, arising out of the normal course of business dealings.
Accounts receivable financing is an arrangement with a bank, factor or other source of financing which:
Accounts receivable financing iinvolves the sale of outstanding invoices or receivables at a discount to a finance or factoring company who assumes the risk on the receivables and provides quick cash to a business.
Current accounts are those which are up-to-date on payments owed, as opposed to past due accounts, in which money owed is behind in payment.