Aging of account payable template is an Excel spreadsheet to record and track supplier’s account payable. You may need this to organize and schedule your payment in order to keep your business cash flow meet your budget.
As a business doer, you have to manage your customers well especially on the money. You have to classify which supplier who have to pay their order because of the payment period and which supplier who are considered as new one. To handle this kind of situation, you need to use aging of account payable chart. By using this chart you can classify and report your supplier easier than the manual way.
Aging of Account Payable Template
Because it is about the payment day, you also need to take clear information about which suppliers who have to pay right away and the new one. The chart helps you to manage those suppliers because you have the data. For example, the chart can classify the suppliers who have to pay up to 30 days, 60 days, and 90 days. To make it strong and easy to check, you also need to include the invoice number of your supplier. If there is a problem, you can check the chart as well as the invoice to solve the problem. Hopefully, by using this aging of account payable you can manage their order and their payment better than before. At least, you can limit the mistake in the payment process from the suppliers.
The aging of account payable is made in eight columns. You have to complete the transaction date, the invoice number, and the account name. To make it clear, you also need to write down the account number description. Just give the check mark on the period of payment time and the last thing to do is writing the total of transaction from your suppliers.