The Accounts Receivable Aging Report in Xero can keep track of all unpaid invoices for your small business.
The accounts receivable aging report shows the details of each customer invoice with the number of days the unpaid invoice is overdue.
The actions that you and/or any small business owner can take immediately after reviewing the report may involve the overdue invoices and the invoices with due dates that are about to pass.
For invoices with due date that has not passed but is about to pass:
For invoices with due date that has already passed:
The accounts receivable aging report should give you the ability and insights to forecast and plan.
When you review your accounts receivable aging report on a weekly basis, you will be able to:
Let’s go through the accounts receivable aging report.
Accounts receivable is the money due to a supplier/vendor (i.e. seller) from a customer (i.e. buyer) where the money amount has not yet been paid.
The amount owed is shown on invoice which is sent to the customer from the supplier/vendor.
In accounting when an invoice is created/issued, a credit is granted to the customer.
Accounts receivable is a current asset on the balance sheet of a specific customer.
Accounts receivable aging
Accounts receivable aging refers to a report that reveals a list of unpaid customer invoices and unused credit notes by date ranges (i.e. 30-day or less, 31-60 days, 61-90 days, etc).
A small business owner can use the information in the accounts receivable aging report to evaluate how well or bad his/her company has been collecting due payments (from his/her customers).
The owner can create action plans to collect unpaid debts (i.e. overdue payments) according to the information in the report.
In your Xero account, click the Accounting tab.
Under the Sales sub heading, you will see 7 reports:
The aged receivables detail report (in Xero) shows the customer contact, invoice date, due date, invoice number, etc.
The aged receivables detail report shows the customer contact, invoice date, due date, invoice number, etc.
Based on the information in the report, it lets to quickly see which customers you will have to follow up with for their overdue invoices.
For an invoice which is overdue, the report will display the number of days it is past due. For example 1-30 days (or 1 month), 31-60 days (or 2 months), 61-90 days (or 3 months), etc.
When an invoice is current and is not due yet, the overdue dates will not show.
The aged receivables summary report displays the summarized information of the aged receivables detail report.
The report is a list of all contacts who have contributed to a total amount with current and/or past due amounts (i.e. 1 month, 2 months, 3 months, older).
You can view the invoice details by clicking any of the totals in the report. This lets you drill down to all the invoices which has contributed to the total amount.
The receivable invoice detail report shows line item details of all the outstanding invoices, credit notes, over-payments and pre-payments.
The receivable invoice summary report displays the summarized information of receivable invoice detail report.
The report does not show all the line items of an invoice. Each invoice is summarized in one row with invoice number, contact, invoice date, expected date, reference, balance, source, and invoice sent.
You can click a row (in the report) to view additional details of an invoice or credit note.
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