aging balance
English translation: Aged balance of accounts
| 02:15 Mar 13, 2006 |
| English language (monolingual) [Non-PRO] Bus/Financial - Accounting | ||||
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|  Selected response from: Martine Brault Canada Local time: 22:24 | |||
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| SUMMARY OF ALL EXPLANATIONS PROVIDED | ||||
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| 5 +9 | Aged balance of accounts |
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Answers
1 hr confidence: 
peer agreement (net): +9
peer agreement (net): +9Aged balance of accounts Explanation: "DEF – The process of classifying amounts in an account, such as accounts receivable, according to the length of time they have been outstanding or for which they have been due. Source" An Aged Balance report presents the total of accounts with an analysis of their age based on the invoice date or the due date. Those reports list Accounts Payable or Receivable by ranges - usually 1 month (30 day) increments. So if you owe another entity 100 000$, a regular listing of Accounts Payable will only list this information but an Aged Balance of Accounts Payable will show the age of those payables. The report is usually shown with headers - Current, 30-60- days, 60-90 days, 90-120 days, 120 days + - and a total. Depending on your type of industry, those increments may be smaller or larger, but lending entities such as banks will usually ask for reports showing 30 day increments. -------------------------------------------------- Note added at 1 hr (2006-03-13 03:27:32 GMT) -------------------------------------------------- The report normally lists all accounts, whether they are overdue or current. |
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