Receivables, Loans, Notes Receivable, and Others (Notes)

12 Months Ended

Dec. 31, 2023

Accounts Receivable Additional Disclosures [Abstract]

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

4. Accounts Receivable

Accounts receivable, net consisted of the following:

	December 31,
(in thousands)	2023		2022
Trade, net	$	15,772	$	13,934
Unbilled	668,920		600,446
Other	9,186		8,384
Accounts receivable, net	$	693,878	$	622,764

Our accounts receivable is primarily composed of trade receivables and unbilled receivables. Our trade receivables, which represent outstanding gross billings to clients, are reported net of allowance for doubtful accounts of $1.1 million and $1.0 million as of December 31, 2023 and 2022, respectively. We establish an allowance for doubtful accounts based on management’s assessment of the collectability of specific accounts and by making a general provision for other potentially uncollectible amounts.

We make an accrual at the end of each accounting period for our obligations associated with the earned but unpaid wages of our WSEEs and for the accrued gross billings associated with such wages. These accruals are included in accrued worksite employee payroll cost and unbilled accounts receivable; however, these amounts are presented net in the Consolidated Statements of Income and Comprehensive Income. We generally require clients to pay invoices for service fees no later than the same day as the applicable payroll date. As such, we generally do not require collateral. Client prepayments directly attributable to accrued worksite employee payroll costs and unbilled revenues have been netted as we have the legal right of offset for these amounts. Unbilled accounts receivable consisted of the following:

	December 31,
(in thousands)	2023		2022
Accrued worksite employee payroll cost	$	559,194	$	513,397
Unbilled revenues	137,318		123,849
Client prepayments	(27,592)		(36,800)
Unbilled accounts receivable	$	668,920	$	600,446