2016-12-30 00:00:00 Finance and Accounting English Discover the purpose of an aged accounts payable report as well as it can improve expense reporting, save your company time, and promote... https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/03/Man-Explaining-Accounts-Report-Friend.jpg What is an Aged Accounts Payable Report?

What is an Aged Accounts Payable Report?

0 min read

An aged accounts payable report is a schedule outlining the number of days outstanding for invoices. It records the timing of due dates and aggregates invoices into groups of days. For instance, an aged accounts payable report could report all invoices due in less than 30 days, due between 30 and 60 days, and invoices due greater than 60 days ago.

An aged accounts payable report is useful for identifying deficiencies in the invoice receipt, approval, and processing procedure. It suggests potential areas of improvement regarding late fees and credit balance maintenance. The report can maintain relationships with vendors, as it provides notification for past-due accounts and investigation into the reason why an invoice is past due can occur.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

Related Articles

Increase Cash Flow by Improving on Accounts Receivables Management

If having accounts receivables is part of your normal business operations, you…

Read more

Allowance for Doubtful Accounts

An allowance for doubtful accounts is a general ledger account used to…

Read more

Accounts Payable Turnover

Your accounts payable turnover is the rate you pay your bills. You…

Read more