What is an Accounts Receivable Aging Report?
Accounts Receivable Aging Reports will give the company information on what is owed to them from customers. This reports a detailed list of how much is owed, by whom and for how long. If a customer is behind in payments, it will give the dollar amount and how many payment periods it is past due. This report will also show how much is owed at the 30-60 and 90 day mark to make it easier to report monies owed to credit reporting bureaus.Like other forms in Quick Books, an audit trail is easy to find with the Zoom option that will give details of the invoice on the owed purchases.
Depending on the businesses decision, several forms may be needed. To a prospective investors, profit and loss statements, inventory evaluations and balance summaries would be needed. The investor wants to know how much money is being made, growth, as well as current assets on hand. For individuals, a Customer’s Balance Sheet would tell how fiscally responsible the individual is. If the company is unsure of how much liquid cash is needed to get through a period, the Vendor Balance Summary would help them see how much is already owed and by those numbers, future amounts.
More by this Author
Matching principle is basically associating the revenue of a time frame with the cost that were required to make the revenue. This can be done in a few ways and the way the assets and cost are matched will depend on...
The three main types of business activities are financing, investing and operating. These three types of activities all involve the flow of money, however what the money is for will be the determinate of which category...
A quick and easy cheesecake recipe that takes only a few minutes to prepare with a pre-made graham cracker crust. Everyone will love this!
No comments yet.