BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The “Current Balance” column of an aged accounts payable report includes only the balance information from new supplier orders you placed within the last 30 days. Balances that are zero to 30 days old are considered current balances.

Detailed explanation-2: -The Current column shows by-vendor totals of the newest invoices with unpaid balances that aren’t past due for payment yet. The AP aging report may show columns for 91 – 120 days and over 120 days columns instead of the column for over 90 days.

Detailed explanation-3: -The aging balance is an key tool for collection management and performance evaluation. It shows what is the breakdown of receivable according to their age relative to their due date.

Detailed explanation-4: -An AR aging report contains a list of your customers’ unpaid invoices since the time the sales invoice was issued along with their duration. In other words, the accounts receivable report lists the amount due from your customers.

Detailed explanation-5: -The standard categories for the aging report are: Current: Invoices that are due immediately. 0 – 30 days: Invoices that are due within the next 30 days. 31 – 60 days: Invoices that are a month – 31 to 60 days – past their due date.