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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. |
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:
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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. |
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1-30 |
Invoices in this column have gone past the invoice date by anywhere from 1-30 days. |
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31-60 |
Invoices in this column have past the due date of the invoice by 31-60 days. |
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61-90 |
Invoices in this column are 61-90 days past the invoice due date. |
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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.
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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. |
