What is an Aged Accounts Payable Report?

by Greg DePersio

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.

Related Articles

What’s Changed in the New QuickBooks

The new QuickBooks Online bookkeeping software has gone through quite a few changes. As…

Read more

Appealing an Assessment Before the Tax Court of Canada

When you disagree with a tax assessment from the Canada Revenue Agency,…

Read more

How Continuous Process Improvement Boosts Your Bottom Line

Your small business should always strive to get better. By continually evaluating…

Read more