Accounts receivable, net consist primarily of amounts receivable from customers. Allowance for Uncollectible Accounts. Receivable.To create a new accounts receivable item, click Add AR to this Contract. You will then need to complete the required fields to create a new AR. Is the record accurate? •Has the correct debtor been identified? The concept is simple: accounts payable represents money you owe, while accounts receivable represents money you are owed. But there's more to it than that. 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. Accounts Receivable is responsible for the accounting, billing, and collection activities relating to reimbursed programs and projects.