Question

what information does an Accounts Payable Aging report provide

Answer 1

An accounts payable aging report provides the information about the accounts payable based on the time period. It bifurcates / separates all accounts payable into categories of time like accounts payable due within 30 days or less, those due within 30 to 60 days, 30 -90 days and so on, depending the requirements of each company. Accounts payable that are not overdue are called as current accounts payable. While those overdue, are called as aged accounts payable. In determining the current and aged accounts payable, reference to the invoice due date ad payment terms is made. Both, current as well as aged accounts payable are shown in the accounts payable aging report with separate columns.