Should accounts receivables be recorded separately or together in the financial statement?

Answer 1

How you reflect receivables should be dependent upon how significant they are relative to your overall balance sheet.
1) If you have just a few, may want to just list them all separately.
2)If you have a lot of minor A/R accts. but a couple of major A/R accts., you might want to break out the couple of large accounts and then lump the rest together as "other receivables".
3) If you have a lot of receivables and these represent a significant part of your total assets, you should probably lump them all together on your balance sheet but also provide a separate list of them showing the aging of receivables (current, 30 days late, 60 days late, etc.). This becomes especially helpful if you ever need to borrow using accounts receivable as collateral.

Answer 2

It really how detailed a person want their Accounting to be. We have the Norm and we have people that just keep a running tab. It all work, if, it help you to see what you need to know and can prove to the IRS if audited that this how it happened.
When I had my Landscaping Business I kept 2 seperate Receivables. One was private work that was non-taxed (Sales) and the other was for work done for Businesses that was Taxed (Sales). Then I could later combine the 2 for my total income.

Answer 3

They can be lumped together. GAAP allows that.