Basic accounting on Aged Receivables 

Businesss looking to controll their receivables and deterine credit worthy customers pay close attention to the reporting structure in the aged receivables of their business. An aged receivalbe report is a report that lists unpaid customer invoices and unused credit memos by date ranges. Some managers ask to have contact information in the reporting structure to determine credit approval and history of paying customers. 

How often should you look at your aged receivables is dependent on how your keep your books in your organization. Our recommendation – work on your aged receivable reports to improve effeciencies for your business. We hope you enojyed the bookkeeping tips in this article!

LUXA Enterprises offers outsourced accounting services for small businesses in the Tulsa and surrounding areas. If you’re considering a short or long-term approach to outsource accounting, give us a call for more information at 918-928-7288.

Sources: http://www.accountingtools.com/questions-and-answers/what-is-accounts-receivable-aging.html

stash” target=”_blank”>Photo credit