Accounts receivable (AR) is an accounting term for money owed to a business for goods or services that it has delivered but not been paid for yet. The focus of the manual is the management of receivables owed to the State of Arizona.We're going to walk you through how to calculate accounts receivable in this guide. We'll demystify a myriad of different formulas and ratios you need to know. Learn how to record retention receivable and payable, and why it can be essential for your construction business. Contract accounts receivable and payable (FI-CA) is a type of subledger accounting that is tailored towards the requirements of industry sectors. To provide policies and procedures for invoicing and recording accounts receivable for sales to external (nonUniversity) customers for goods and services.