How to Set Up an Accounts Receivable Aging Report in QuickBooks?

by James Antonio

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QuickBooks is a globally famous and accepted small business accounting software, that businesses leverage to manage income and expenses and keep the track of the financial health of the business. This can be used for varied purposes, such as invoicing customers, paying bills, generating reports, and preparing taxes. The QuickBooks product line also includes several solutions which work great for all, right from a freelancer to midsized businesses.

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Accounts Receivable Aging Report: Explained

Accounts Receivable Aging Report can be defined as the detail of the current Accounts Receivable Aging Report which reflects the invoice billed and date, along with all subsequent payments and dates of those payments. The Customer Balance Detail reflects all Customers, even those who are paid in full.

What is QuickBooks Aging Report is Inevitable?

The amount client owed to the owner of the business is showcased in the Accounts Receivables aging report, this can be shown separated into columns according to the aging or the days by which the invoice is overdue. This helps the user to know the potential collection issues, which later they can address. The report aids the user to know the cash which needs to be collected next month more accurately compared to only looking at total receivables since the receivable aging report identifies past due invoices which might not be collected in the coming time.

How to Run Accounts Receivable Aging Reports?

In this module, we will get the knowledge about how to create and amend the accounts receivable aging reports in QuickBooks.

The reports provide you the overview of due amounts which your clients owe to you along with the number of days like how long the payment is past due. In this module, we will further assist you with how to run these reports.

Accounts Receivable Aging Summary Report

You can run an Accounts Receivables Aging summary report to get visibility of the total outstanding balances and how long they are due.

  1. In the first step, you are required to navigate to the Business overview and choose the Reports.
  2. In the second step, you are required to choose the Accounts Receivable Aging Summary in the Who owes you section.
  3. Now, modify the report as per the requirement:
  4. Now in the final step, you need to Select the Run Report.
Report PeriodDate or time range of the report covers.
Show non-zero or Active onlyWhat to do with rows and columns with zero amounts.
Aging MethodHow to differentiate the outstanding receivables by days past due.
Current date: Based on the current status.
Report date: The status depends on a particular date.
Days Per Aging PeriodThe number of days allowed in an aging period can be for thirty days, sixty days, or might be for ninety days.
Number of PeriodsThe number of aging periods in total like two periods: 1-30 days, 31 and above.

Accounts Receivable Aging Detail Report

You can run an accounts receivables aging details report viewing the past balances and how long each transaction is past due.

  1. In the first step, you are required to the Business overview and choose the Reports.
  2. Now, in the second step choose the Accounts Receivables Aging Details in the Who owes you section.
  3. And now, amend the Report as per the requirement.
  4. Now in the final step, you need to Select the Run Report.
Report PeriodDate or time range of the report covers.
Aging MethodHow to differentiate the outstanding receivables by overdue days.
Current date: Depends on the current status.
Report date: The status depends on a particular date.
Days Per Aging PeriodThe number of days allowed in an aging period can be for thirty days, sixty days, or might be for ninety days.
Number of PeriodsSeveral aging periods in total like two periods: 1-30 days, 31 and above.
Min. Days Past DueShow balances beyond the set past due days

What is the Way to Get the Value From Accounts Receivables Aging Report in QuickBooks Accounting Software?

The accounts receivables aging report can assist you to be on top of the outstanding invoices and will assist you to make sure that you keep the cash flow moving with the more timely payment of invoices.

Here are more ways to get value from the QuickBooks Aging Report functionality:

  • Always ensure to make the payment terms for all of your clients as this helps you and QuickBooks accounting software to ensure get accurate data and timely payment reminders.
  • Also, make sure that all credit sales are recorded in QuickBooks accounting software.
  • If it is not done yet, you are required to make a follow-up plan for the due invoices.

What Actions are Required to Take Before Sending The Invoice To a Collection Agency or Writing it Off as a Bad Debt?

It might be difficult to have the tracking of the due invoices. This helpful reporting tool will help the user to get a solid understanding of the existing and future cash flow position, and give the information which is required to set up payment notifications for the overdue invoices. As a business owner, keeping on top of outstanding invoices is crucial to financial health and longevity.

What is the Procedure to Run the Accounts Receivables Aging Report in QuickBooks Accounting Software?

Here are four steps are given below which help you to know the procedure to run an Accounts Receivables Aging Report in QuickBooks accounting software:

  1. In the first step, hit on the Reports in the left menu and then choose Accounts Receivable Aging Summary in the Who owes you section as highlighted in the coming screenshot.
  2. After that, amend the General Report Options for the Accounts Receivable Aging Report in the menu bar above the Report.
  3. Now, you are required to hit the Customize option to customize the Accounts Receivable Aging Report further.
  4. And in the final step, you are required to choose the icon in the upper right corner of the report to Email, Print, or Export the Report.

How to create a New Accounts Receivable Aging Report?

You are required to select the reports option which is shown in the below screenshot on the left side and then scroll down to the Who owes you an option. And now, hit on the Accounts receivable aging summary to make a new Accounts Receivable Aging Report:

Accounts Receivable Aging Summary

How to Set the Options for the Accounts Receivable Aging Report?

Here you are required to go to the menu bar above the aging report by scrolling up. The menu bar gives a few general options which can be adjusted by the user as shown in the below screenshot:

AR Aging Summary Report

Here you are required to select the below-mentioned options for the Accounts Receivable Aging Report:

  • Report Period: Select the date on which accounts receivables must be outstanding to be included in the report. Here you can also select the common reporting time frame from the drop-down menu or enter the date according to the requirement.
  • Show non-zero or Active Only: The QuickBooks automatically reflects the rows and columns which have activity during the period. This is a nice setting that will avoid an unnecessary hassle in the report.
  • Aging Method: We can get the age of an accounts receivable based on either the report date selected, or the date the report is made.
  • Days Per Aging Period: Aging reports normally depend on a gap of thirty days per column, however, it can be amended to a different number of days according to the requirement.
  • The Number of Periods: Set the number of periods, or columns, you need to see in the aging report.
  • Run Report: In this, you need to hit the run report option to apply the changes.
  • Customization/modification: For further customization of the Accounts Receivable Aging Report, you are required to click on the Customize option.
  • Save Customization: Here you can also create and name a new report with the options which you have selected in this and the next step.

Further Customization/Amendments of the Accounts Receivable Aging Report

You can choose the additional options for the Accounts Receivable Aging Report by clicking on the customization option item in the prior section.

  • General: The first group of options in the Customize report menu is general options. Here you can select the reporting period in the options above the report will be visible and can be amended as per the requirement. Unique options available in this section consist of showing all numbers in thousands of dollars and selecting the format for negative numbers.
  • Rows/Columns: The only rows/column option is to put down non-zero and no-activity accounts, which is also an option that can be set in the options located above the report.
  • Aging: While there is a section for aging in the customized tabs, the only settings available are those which can also be adjusted with the options above the report.
  • Filter: The filter options allow the user to filter the aging report based on two variables. If the user does not have the option to filter the Accounts Receivable Aging Report by location, he/she is required to turn on location tracking in the advanced company settings.
  • Header/Footer: In the Header/Footer options, the user can make the selection of the information which needs to be displayed in the header and footer of the receivables aging report. Here users can the facility to amend the company name or report name which will be shown in the header. If the user has the option to choose the logo at the time of company setup at the top of the aging report.

Once the customization or amendments are in the Accounts Receivable Aging Report, you are required hi on the green Run Report button.

How to get the print or email of the Accounts Receivable Aging Report?

Here you can print, email, or export the aging report with the icons in the top right corner of the report.

  1. You are required to hit on the Envelope icon to get the Accounts Receivable Aging Report on the email without having to leave QuickBooks accounting software.
  2. Choose the printer icon to Print a Copy of the Report.
  3. Hit the drop-down arrow next to the export icon to Select the Export (as a PDF or an Excel spreadsheet) option.

So now you have completed reading another QuickBooks module with us, hopefully, you would be able to run an Accounts Receivable Aging Report in QuickBooks accounting software. We have covered maximum information which helps you to have a better understanding of the process.

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