Download our free accounts payable aging report template for Excel and Google Sheets. Stay on top of due dates, outstanding bills, and vendor payments at all times.
Managing accounts payable efficiently is important for running a successful. Staying on top of all your vendor invoices ensures that payments are made on time. It helps you avoid late fees and maintain strong relationships with your suppliers. Failing to do so can not only damage your vendor relationships but also negatively impact your business’s credit score.
One of the most effective ways to manage your accounts payable is by keeping an accounts payable aging report. This report gives you valuable insights into –
- What you owe
- When it is due
- What is overdue
This makes it easier for you to stay on top of your payments. You can get started quickly by using our free accounts payable aging report template. You can readily use it to track your vendor invoices, manage your accounts payables and streamline your overall payment process.
Accounts Payable (AP) Aging Report Template
The accounts payable aging report provides detailed records of unpaid bills and invoices.You can track invoices, their payments, and due dates to ensure they are processed on time. Further, this report can help you to –
- Manage your cash flow.
- Prioritize payments.
- Avoid late payment fees.
An accounts payable aging report template allows you to create these reports without any hassles. It contains a pre-defined table with the right headings and placeholders where you can add specific invoice-related information to streamline the accounts payable documentation process. Whether you are tracking your outstanding bills or summarizing the due dates for invoices, this report template will make the entire process faster and more organized for you.
Download the Accounts Payable Aging Report Template
We have created these accounts payable aging report templates in Excel and Google Sheets exclusively for you. You can record your payable invoices in a single sheet for effective tracking and streamlining your accounts payable process.
You can easily download these templates in one click and start using them to track your outstanding payments.
Upon downloading the template, all you need to do is –
- Open the spreadsheet in Microsoft Excel or Google Sheets – whichever application you prefer to easily track payments for all of your invoices.
- Review the template structure to understand its sections, headings, and so on. We have detailed out the various components of this template in the section below.
- Make necessary edits to customize the template if needed. You can start by entering details like your company name, accounting month, vendor details, and so on.
- Next, fill in the desired invoice information and select the status from the convenient drop-down options.
This will set you up to easily track payments for all of your invoices.
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Understanding Accounts Payable Aging Report Template
Whether you are creating your accounts payable aging report template from scratch or using our free download, it is important to understand the important terms of your accounts payable aging ledger.
What Information Does Accounts Payable Aging Report Template Contain?
The accounts payable aging report contains a tabular structure that organizes your invoice information in a concise format. This report usually consists of the following important information –
| Column Name | Description | Importance/Use |
| Invoice Date | The date the invoice was issued by your vendors/suppliers. | Estimate the due date for payment based on the agreed credit terms. |
| Invoice Number | A unique identifier or reference number that is assigned to each invoice by the respective vendor. | Track relevant information about each invoice and its payments. |
| Vendor or Supplier Name | The name of the company or individual that provides you services or supplies goods. | Understand the outstanding amounts you owe to each vendor. |
| Expense Category | Classification of your invoices based on its type. For example, rent, travel expenses, raw materials, administrative, software charges, and so on. | For budgeting and other financial planning activities |
| Description / Comments | A brief note or additional details about the invoice. | Understand and share the reason for the said payment. For example, noting down preferred payment methods, or discounts. |
| Total Invoice Amount | The total payment amount you owe to the vendor that is written on the invoice. | See how much you owe to each supplier and plan your financials accordingly. |
| Due Date | The deadline for making the payment. | Prioritize invoices that are due for payment and avoid late fees. |
| Credit Terms | The agreed-upon payment terms. For example, Net 30, Net 60, or Net 90. | Shares the number of days you have to pay a vendor’s invoice. |
| Paid Amount | The amount or portion of the total invoice you have already paid. | Track partial payments and keep an accurate record of outstanding balances. |
| Payment Date | The date on which the partial payment was made. | Maintains clear records of payments made to the vendors. |
| Balance | The remaining balance of an invoice. | Tells you how much you have left to pay the vendor |
| Status | The current state of the invoice | Check whether a particular invoice is paid, partially paid, unpaid, due, or overdue. |
| Days Overdue | The number of days an invoice is late. | Track the days a vendor’s invoice is past due and prioritize them to avoid penalties. |
| Total Accounts Payable | The total outstanding amount you owe to your vendors. | Offers a summary of all unpaid invoices for better financial planning. |
What Metrics Are Tracked in This Report?
You can use the accounts payable aging report to track some of the key metrics such as –
- Total Accounts Payable – Shares the sum of all unpaid invoices.
- Total Accounts Payable per Supplier – Shares the total unpaid invoices for each vendor.
- Outstanding Invoice Amount by Aging Period – Shares the total outstanding amount for each aging period.
- Total Accounts Payable per Supplier – Shares the total unpaid invoices for each vendor.
- Total Paid Amount – Shares the sum of all paid invoices.
- Number of Overdue Invoices – Shares the count of overdue invoices.
- Late Payment Fees Incurred – Shares the sum of all late payment fees.
- Average Days to Pay – Shares the average number of days you take to settle invoices upon receiving them.
Who Is the Accounts Payable Aging Report Template Built For?
We built this easy-to-use AP aging report template for everyone who is responsible for managing the company’s financials and vendor relationships. This includes –
- Small to medium-sized business owners – For staying on top of vendor payments and managing their finances efficiently.
- Accounts payable teams – For tracking due invoices and prioritizing vendor payments.
- Accountants, account assistants, and audit assistants – For reconciling accounts and ensuring accurate financial records, especially during audits.
- Financial managers – For monitoring outstanding payments for better cash flow planning.
- CFOs and financial analysts – For assessing the company’s financial health and making informed business-related decisions.
The main purpose of this template is to share insights into your company’s outstanding payables by simply tracking invoices. However, you can also use this template to –
- Monitor payment deadlines to stay on top of upcoming payments.
- Identify high-priority payments and overdue invoices to determine the ones that require immediate attention.
- Categorize payments based on aging periods and schedule payments based on invoice due dates.
- Analyze vendor payment patterns to plan your payments strategically and build flexible payment plans.
- Identify potential issues like payment delays or cash shortages to take necessary actions and maintain vendor relationships.
- Track payment discounts to identify opportunities for reducing overall financial expenses.
Benefits of Using the Accounts Payable Aging Report Template
The accounts payable aging report gives you a bird’s eye view of your invoices, payment amounts, and their due dates. It helps you monitor what has been paid and what is due.
Here are some ways how this report contributes to effective financial planning while offering a clear overview of your upcoming financial obligations.
- Monitoring cash flow –
This report tracks your outstanding payments and helps you manage your financial obligations more effectively. You can plan your expenses better and make smarter financial decisions so that you do not run out of cash unexpectedly.
- Keeping records for audits and regulatory compliance –
This report helps you maintain accurate records of all your outstanding invoices. This makes the process of audits and compliance checks hassle-free for your team. As the required invoice information is documented in one place, there is better financial transparency.
- Improving overall operational efficiency –
This report brings everything in one place. It simplifies payment management, eliminates manual follow-ups, and reduces inefficiencies in your processes for better payment tracking. It helps you work more efficiently, saving you time to focus on growing your business.
- Maintaining positive relationships with vendors and suppliers –
Paying vendors on time strengthens trust and fosters positive work relationships. When your vendors trust you, they might offer you better payment terms, discounts, and priority service. This can be a gamechanger for your business operations.
Wrapping Up
Managing an accounts payable ledger is important for keeping tabs on invoice payments, due dates, transactions, and more. And using templates, like the free accounts payable aging template we shared above, is an excellent way to get started.
However, manually filling in information can become time-consuming and prone to errors. This is especially true if you deal with hundreds of invoices in a day. Having automated accounts payable management software like ProcureDesk can really make a difference in these regards.
ProcureDesk is an all-in-one accounts payable management tool that integrates with traditional accounting software to help you manage and track invoices. With ProcureDesk, you can streamline your accounting payable workflows and automate routine tasks. It makes it easy for you to manage thousands of vendors and their invoices efficiently.
Sign up for a demo to learn how ProcureDesk can optimize your accounts payable workflow.
About the author
Sachin Sharma
Sachin Sharma is the CEO of ProcureDesk and has spent over 23 years in procurement and supply chain technology. He previously led procurement operations at a Fortune 500 company before founding ProcureDesk. Connect with him on LinkedIn.
