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What is an Aged Debtor Report?

Definition: An aged debtor report details a list of the customers that owe or will soon owe your company money.

Simply put, the aged debtor report lists a detailed account of which customers (debtors) owe your company money, how much they owe your company, and when they are supposed to complete payment.

Working with the aged debtors report

The aged debtor report is important information for you as a business owner to have, but it is useful to others as well.

Your company’s bank manager could wish to see this information if you have applied for or are applying for a loan. Having a high total number of customers who have owed you money for more than 30 days (for example) could indicate that you are not being paid by your customers (debtors) in a timely manner.

Aged debtor report in e-conomic
An example aged debtor report in e-conomic, as of August 31, 2010

Details about the aged debtor report in e-conomic

In an e-conomic aged debtor report, the first three columns show the customer number, the name and the customer group of the customer (the debtor) that owes you money.

’Not yet due’ shows what the customer owes from the current month (ie, August in this example) from which they have just been invoiced. Their payment date has not arrived yet. The columns that say ’0-15 days’, ’16-30 days’, and ’>30 days’ describe the length of time since the payment has been due. ‘Balance’ tells you how much the customer owes you to date.

In e-conomic

In the e-conomic Online Accounting System you can view your company's aged debtor report to find a quick overview of which customers still owe you money, and how long they have owed you.

You can learn more about how to create an aged debtor report in e-conomic in our help site E-copedia.

 

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