An account receivable and a note receivable both refer to money that is owed to you/your company by another person/company. Both can be current assets or long term assets. However, the difference in the two is:
Sep 15 2014 11:55 PM
A Note Receivable has some form of contract signed, [i.e. promissory note etc.] while an account receivable does not. A note receivable is generally paid out at equal interval payments and generally carries interest, while an account receivable can carry interest it generally does not.