How do I calculate the vendor aging report?
At its core, calculating a vendor aging report is a matter of
sorting vendor balances by date interval, aging period definition, and any other data filters that may be necessary. To calculate the report, start by
gathering the necessary data from the vendor, such as invoice dates, payment terms, and payment amounts. Then, use Sourcetable to format the data into a table and apply the necessary formulas. For example, you can use the SUMIF function to add up all of the unpaid invoices that fall into a certain aging period, or the IF function to list only the unpaid invoices that have been outstanding for more than a certain number of days. Finally, use the SUM function to calculate the total amount due for each aging period.
What are the benefits of using an accounts payable aging report?
Using an accounts payable aging report can help businesses manage cash flow, plan future expenses, and track how much a business owes other businesses.