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Accounts Receivable Aging Reports

The A/R Aging Summary Report is an essential planning tool for every business. When a company sells goods or services and does not collect payment immediately upon delivery of goods or completion of services (COD), an accounting transaction is generated through an invoice and the result is called Accounts Receivable. The customer is offered a fixed period of time to pay for the goods or services, called payment terms or invoicing terms. Typical terms are Net 15 days, Net 30 days, Net 45 days, or Net 60 days; often an incentive is offered by the seller to the customer, called a Sales Discount for early payment. For example, a common discount offered is 2% discount if payment is made within 10 days; the terms are then written 2% 10, Net 30 Days. A company needs to track these expected payments, or "Accounts Receivable", in order to determine cash flow in, and to remind customers who go over the payment term time frame via a monthly Statement that the customer's account is aging.


The Accounts Receivables are reported via an "A/R Aging Report" and can be set up in Summary form by Customer or in Detail form by Customer. Usually there are time "buckets" that the amounts due are summarized in schedule columns: Current, 1-30 days, 31-60, 61-90, and over 90 days, with a Total for each time column and for each customer. Although this information can be manually tracked, it is common these days for a company to utilize software that collects the data from an Invoicing function. As payments are received and posted to a customer's account, the A/R Aging Report is appropriately reduced.

Sample Accounts Receivable Aging Report Excel
Company Name
Date
Time
Accounts Receivable (A/R) Aging Detail
As of (date)

Current

1-30
Total 1-30

31-60
Total 31-60

61-90
Total 61-90

Over 90
Total over 90


TOTAL
Date Inv# PO# Cust Name Terms Due Date Aging (days) Open Balance
Company Name
Date
Time

Accounts Receivable (A/R) Aging Summary
As of (date)

Customer Name









Current 1-30 31-60 61-90 Over 90 TOTAL
TOTAL $ $ $ $ $ $$

Accounts Receivable Aging

office.microsoft.com
MS Office provides an excellent template to help you get started creating an Accounts Receivable Aging worksheet.

www.2shoptheworld.com
A printable template for Accounts Receivable Aging .PDF.

www.reallifeaccounting.com
Learn the proper steps when handling Accounts Receivable from accounting site RealLifeAccounting.com

www.thesmallbusinessownersmanual.com
Template for you to use when starting to create an Accounts Receivable Aging form.

www.toolkit.com
Business Owner's Toolkit gives a good tutorial and example of how to set-up an Accounts Receivable Aging form.