Receivables are claims held against customers for services, goods or money.The three classifications for receivables are:

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The three classifications for receivables are trade or non-trade, current or non-current, and accounts receivable or notes receivable. Trade receivables are owed by customers in the normal course of business while non-trade receivables are owed by parties outside of the normal course of business. Current receivables are expected to be collected within a year while non-current receivables are expected to be collected beyond a year. Accounts receivable refers to the money owed by customers for the goods or services provided while notes receivable refers to a written promise to pay a certain amount of money on a specific date.

Receivables Are Claims Held Against Customers for Services, Goods or Money.The