Accounts Receivable Aging Report

Premium Feature: This is a premium feature and may not be available on all plans. To access this feature, please upgrade to a supporting plan.
 

 

About the Accounts Receivable Aging report


The Accounts Receivable (AR) account in your Accounts List tracks the money that is owed to you by your customers as a result of your sales. When you invoice your customers using WorkingPoint, your AR account balance increases by the amount of your invoice letting you track who owes you and how much per invoice. When your receive payments on your invoices the AR account balances decreases by the amount of the payment. Your AR account balance reflects only invoices with an outstanding balance for what is owed to you.

When you invoice your customers, you specify a “due date” for when you expect to receive payment on the invoice by.  Due dates are usually spelled out in the terms you offered your customers when you agreed to let them receive your goods/services up-front and pay later.  

The Accounts Receivable Aging report lists all the customers who have unpaid (or partially paid) invoices and it organizes their balances according to how many days their invoices are past due. The report helps you ensure money doesn’t fall through the cracks by identifying which customers are the most past-due so you can follow up with them and ask when you can expect payment or work out a payment schedule.

Use the Accounts Receivable Aging report to:

  • Monitor your AR account to keep customer accounts "current" and money flowing in
  • Quickly access a customers contact record for their phone number so you can follow-up and get paid

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Viewing the Accounts Receivable Aging report


To view the Accounts Receivable Aging report:

  1. Click the Reports tab.

  2. Under Bookkeeping Reports, click Accounts Receivable Aging.

The report will display automatically.

When you see the report on the screen, you can:

  • Click a contact name to view the contact record for the company or individual. This is handy for getting your customer's phone number so you can call them and see when  you can expect payment. Plus, you can see a detailed list of your customer's open invoices.

  • Click the print icon to print the report.

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Reading the Accounts Receivable Aging report


The Accounts Receivable Aging report lists all the customers who have unpaid (or partially paid) invoices and it organizes their balances according to how many days their invoices are past-due.

Invoices are grouped according to the following date ranges:

Current

Invoices in the current column are not yet due. This means your customer in still within their terms and has more time before they need to pay you.

1-30

Invoices in this column have gone past the invoice date by anywhere from 1-30 days.

31-60

Invoices in this column have past the due date of the invoice by 31-60 days.

61-90

Invoices in this column are 61-90 days past the invoice due date.

Over 90

Invoice here are over 90 days the invoice due date.

Tips for using the report:

  • The balance in any column for a customer could represent one or more invoices. Click the name of the customer to go to their contact record and check the Invoices list set to include Open Invoices so you can see the invoices detail.

  • Identify the length of time after an invoice is past due (1 day, 30 days, 60 days, or 90 days) at which you will call a customer to see when you can expect payment.  Then, when an amount appears in that column, you'll know it's time to make the call.

  • Consider contacting customers with invoices in the 61-90 day range who have been unable to pay you to see if you can set up a payment schedule, getting some of your money is better than getting none of it.

  • For very delinquent accounts, those over 90 days, consider sending the invoice(s) to collections to see if you can recoup any money. Usually collections agencies can help you for a percentage of the invoice or the amount collected. You might also consider filing a claim in small claims court.

Note: Credits are not reflected in the Accounts Receivable Aging report balances because credits are managed in the Customer Credits account, not the Accounts Receivable account.


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