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