Accounts Receivable History from Ancient Times to The Modern Era

Theresa Ese Esenohor
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Theresa Ese Esenohor: Department of Business Education, College of Education, Warri

International Journal of Research and Innovation in Social Science, 2023, vol. 7, issue 6, 1738-1745

Abstract: This study presents an in-depth history of accounts receivable from ancient times to the modern era. The Babylonians, Greeks, and Romans all established systems for recording and managing debts owed to them. The study focuses on the first-century AD development of double-entry bookkeeping, which enabled enterprises to maintain their accounts more correctly and effectively. The study uses the Descriptive research method. The study also explores how technology has changed the way businesses manage accounts receivable in the modern day, with electronic payment methods and software making it easier for firms to track and collect payments from clients. In conclusion, the paper emphasized that businesses may better manage their finances and enhances their bottom line by studying the history and evolution of accounts receivable, to remain competitive in today’s fast-paced business world, firms must continue to adapt and accept new technologies.

Date: 2023
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