Accounts Receivable Aging Report Instructions
Purpose
To track past due accounts receivable in order to assist collection efforts
This report is similar to reports generated by computer accounting systems like
QuickBooks. Other accounting systems, including dealership systems will have
similar reports
Across the top of the page
Date
The date of the invoice
Invoice Number
The number of the invoice, or RO number, depending upon how this is entered into
your accounting system
Name
The name of the party the invoice is billed to. This may be the customer, or the
name of the responsible insurer depending upon how you have your system set up.
Terms
The terms determine when the invoice is due. Often, this is set up as a system
default, but may be altered on individual invoices for special circumstances.
Due Date
This is the date the invoice is due based on the terms. Beyond this date, it is
considered past due.
Open Balance
This is the amount that remains open on the invoice. In some cases, a partial
payment may have been made (I.e. original estimate), but an amount remains due
(for instance, a supplement or a deductible).
Down the page
Current
This portion of the report will list all invoices that are currently outstanding but not
yet past due. The due date (30 days after invoice date in this example) can be set
based on your collision center's payment terms. Net 10 days or net 30 days are
examples.
Notice that a subtotal of all current receivables is also listed along with a percentage
of current receivables to total receivables. Naturally, you desire this number to be as
high as possible.
1-30
This lists all invoices that are between one and thirty days past the stated due date.
A subtotal and percentage of Total Accounts Receivable are also listed. This figure
should be as small as possible.
31-60
Same as above for each category
61-90
Same as above for each category
Over 90
Same as above for each category
Total Receivables
The total of all Accounts Receivable Outstanding as of the date of the report.
Copyright © 2003, BASF Corporation
Ted's Auto Collision Center
Accounts Receivable Aging Report
As of November 30, 2002
Date
Invoice #
Name
Terms
Due Date
Net 30
Net 30
Net 30
12/13/2002
12/11/2002
12/11/2002
Open Balance
%
Current
11/13/2002 RO 33448
11/11/2002 RO 33447
11/11/2002 RO 33445
James Jones
Allstate
Nationwide
etc.
Total Current
$500.00
$10,482.78
$1,876.23
$54,782.19
82.1%
$473.29
$8,769.39
$187.23
$9,429.91
14.1%
$500.00
$549.89
$1,049.89
1.6%
$54.98
$234.98
$289.96
0.4%
$1,187.54
$1,187.54
1.8%
$66,739.49
100.0%
1 - 30
10/6/2002 RO 33337
10/4/2002 RO 33331
10/1/2002 RO 33322
Total 1 - 30
Billy Bob Thornton
Small Town Mutual Ins.
State Farm
Net 30
Net 30
Net 30
11/5/2002
11/3/2002
10/31/2002
31 - 60
9/22/2002 RO 33275
9/3/2002 RO 33203
Total 31 - 60
Bob Smith
Republic Insurance
Net 30
Net 30
10/22/2002
10/3/2002
61-90
8/14/2002 RO 33154
8/1/2002 RO 33089
Total 61 - 90
Progressive
State Farm
Net 30
Net 30
9/13/2002
8/31/2002
Over 90
6/25/2002 RO 32814
Total Over 90
Vincent Price
Net 30
Total Receivables
Copyright © 2003, BASF Corporation
7/25/2002