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Accounts Receivable With Aging Excel Template

Accounts Receivable Template With Aging is a ready-to-use template in Excel that find your Accounts receivable Aging.

This template records the sale of services or goods by a company on credit. Alternately, Account receivable Ledger records the credit invoices of a company to its debtors. Moreover, you may also generate debtors-wise, date wise, period wise aging reports.

Accounts Receivable

Accounts receivable means enforceable claim for payment that a business holds for supply of goods or services to customers and not paid for. These are generally in the form of invoices that a business raises and delivers it to the customer for payment within an agreed time frame.

These Accounts Receivables are our assets and listed as a current asset on our balance sheet. Accounts receivable can be further subdivided into two; trade receivables and non-trade receivables.

Trade receivables are from a company’s routine sales activities. Non-trade receivables are all other receivables, such as amounts due from employees against loans, etc.

What is Aging?

The total amount of accounts receivable which a company allows to debtor/customer is often limit by a credit limit. This limit is set usually by the company’s credit department. The payments delayed over this credit limit is called aging.

These limits are attach on the finances of the buyer and its payment history. You can increase or decrease the credit limit period according to the market conditions.

Accounts Receivable Aging Report

The higher the accounts receivable higher our assets will be. But Just making good sales is not enough. Collections should also be done timely and thus help decrease our bad debts. So, it must keep in mind that we must have a minimum amount of bad debts. Moreover, it helps to monitor our billing and collection process. This includes regular and strict follow-ups with the clients for payments.

The aging report also helps us to define and manage the credit policies. This includes client-wise evaluation of payment terms and making necessary changes as required.

The collection of Accounts Receivable defines the cash flow of any company. Delays in accounts receivable collections may lead to lower cash flows. Monitoring of aging reports at regular intervals can help us to decrease the chances of Bad Debts.

Furthermore, a company can use accounts receivable as collateral for loans from banks or other non-banking finance corporations.

Moreover, it is also helpful in defining the Allowances for Doubtful Debts at the time of preparing financial year statements.

Journal Entries for Bad Debts

Given below are the different Journal entries for reporting Bad Debts.

Journal Entry for Bad Debts

Bad Debts A/C – Debit

Debtor’s A/C – Credit

Journal Entries for Bad Debts Recovery

Debtor’s A/C – Debit

Bad Debts Recovery A/C –  Credit

Closing Journal Entry for bad debts

Profit and Loss A/C – Debit

Bad Debts A/C – Credit

Accounts Receivable Template With Aging

We have created an this Template with advanced Aging functions. With Template you can efficiently and easily record the sales entries.

Contents of Accounts Receivable Template With Aging

This template consists of two sections: Header Section, Data Input Section, and Accounts Receivable Aging Report Section.

Download Accounts Receivable With Aging Excel Template
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Compatible with : Microsoft Office Excel, Libra Office, WPS Office, Google WorkSheet
  • Download The Template XLSX File Format
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