The careful management of your Accounts Receivable Aging Report is an important element of managing the cash flow for your business. When there are significant customer invoice balances older than 30 days it can directly impact your business operating funds. The example report below indicates customer invoice balances over 30 days, however, the total amount is low.

Get Help with Collecting Money & Writing-Off Some Bad Debts

If you have been in business for many years you may find that there are too many outstanding transactions on your Accounts Receivable Aging Report. Some of these old customer invoices may no longer be collectible for various reasons. In some cases, you may need help to write-off old customer invoices to Bad Debt, or you may find that your customer, who is also a vendor has applied balances owed to you to balances you owe to them, this is called contra-accounting. If your report indicates that partial payments have been made leaving outstanding customer balances, this could mean that there are incorrectly applied or misapplied invoice payments.

Accounts Receivable Aging Report
Regina Pitts
Regina PittsChief Financial Officer
Member of the QuickBooks ProAdvisor Program

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