Using Microsoft Excel / Google Sheets
Do you have credit sales? Do you feel cumbersome keeping track of due dates and aging accounts receivable? Would you like to have your clients on a worksheet easy to maintain? The answers to these and other questions can be answered with an Account Receivable Subsidiary with an Aging.
In the following image, I show you a schedule done with Microsoft Excel that you can use for each of your clients. The idea is to list every unpaid invoice so the schedule will calculate the aging based on 30 days intervals.
The required information that you need to enter: (1) Reporting date, example 03/31/2019; (2) Invoice Number; (3) Invoice date; and the (4) Amount Due.
The worksheet will calculate the due date; which is the invoice date plus 30 days, the past due in days; which is the reporting date less the invoice date and the invoice aging. This last calculation also will place the amount due in the corresponding column based on the days outstanding.
You should be able to match and balance your accounts receivable with your general ledger in no time. In addition, you will be able to review the aging and evaluate if you might need to adjust the reserve for uncollectible accounts receivable.
I understand that sometimes, you do not have the time to explore and put together spreadsheet solutions. To ease up things, I have included a spreadsheet with this methodology, it is only $3 to cover the costs of running this website and keep adding new material. You can modify, update or change the spreadsheet to accommodate your needs.
Please add some comments, requests of new material or spreadsheets. I want to improve your site experience and keep you as a regular visitor.