What does it mean?
Accounts receivable are amounts owed to the association that have been recorded but not yet collected. Owner assessments are a common example. A receivables report should distinguish current charges, overdue balances, credits, and adjustments so that the board can understand what the total represents.
Related names and search phrases: AR, receivables. Usage can vary.
ILLUSTRATIVE COMMUNITY EXAMPLE
What it can look like
A fictional owner has been charged $100 but has not paid by the reporting date. That amount can appear as a receivable; receiving the payment later clears the corresponding balance.
Why your board should care
A clear receivables picture supports collection follow-up and more realistic cash planning.
Keep the distinction clear
A recorded balance does not by itself resolve a dispute or establish the lawful collection procedure.
Sources & scope
Sources consulted . These references support the explanation’s background; the examples and board questions are original editorial illustrations.
- SEC: Beginners’ Guide to Financial Statements ↗
General financial statement concepts. Association fund presentation can differ from business examples.
- IRS Publication 583: Keeping Records ↗
December 2024 publication. General bookkeeping and reconciliation background, not association-specific legal requirements.
General educational explanations for HOA, POA, and condominium boards. Terms and procedures vary by state and governing documents. Examples are fictional. For a specific legal, tax, accounting, or property decision, consult a qualified adviser.
Prepared with AI assistance and source checking. Not represented as an attorney or accountant review.