What is Aged Accounts Receivable Report?
The Aged Accounts Receivable Report is a crucial financial document that provides a snapshot of the outstanding balances owed to a company by its customers. It categorizes these outstanding balances based on the length of time they have been outstanding, helping businesses track and manage their receivables effectively.
What are the types of Aged Accounts Receivable Report?
There are typically three main types of Aged Accounts Receivable Reports: Current, 1-30 days, 31-60 days, and 61-90 days. Each category denotes the aging of outstanding balances, with the Current category representing the most recent outstanding balances and the 61-90 days category representing the oldest outstanding balances.
How to complete Aged Accounts Receivable Report
Completing an Aged Accounts Receivable Report is a simple yet vital task for any business. By following these steps, you can ensure accuracy and efficiency in managing your receivables:
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