What does R2R stand for?
R2R stands for Receivable to Record
This definition appears very rarely
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Samples in periodicals archive:
Enter the adjustment amount in the credit (right) column attributed to Interest Receivables to decrease Interest Receivables. To record interest at the end of the fiscal year, increase the balance sheet account, Interest Receivables with a debit and increase the revenue account, Interest Income with a credit. If you are not sure which account to use to offset Interest Receivables, speak to your accountant or CPA.
What Are the IRS Rules for Writing Off Notes Receivable?. Businesses sometimes extend credit to customers or suppliers using a promissory note to record the terms of the loan, including amount, repayment schedule, interest and late payment penalties. The lending company records the debt in the notes receivable account, an asset account on the...
All postings in Accounts Receivable are also recorded directly in the General Ledger. Different G/L accounts are updated depending on the transaction involved (for example, receivables, down payments, and bills of exchange). The system contains a range of tools that you can use to monitor open items, such as account analyses, alarm reports, due date lists, and a flexible dunning program. The correspondence linked to these tools can be individually formulated to suit your requirements.