What data need to prepare accounts receivable aging report?

Following data is required for Accounts Receivable Aging:

List of Customers or Debtors from whom amount is receivablle.

Invoice wise and date wise amount receivable from each debtor.

Break-up of receivable amount according to days outstanding.

Agree with the above answers, however if you have huge volume of transaction from only few customers over a certain period, then it is better to do it on invoice basis. That is have a coloumn for invoice issued, then one for outstanding after due date  and then coloumns for the no. of days outstanding (0-30,31-60, etc)

Age-wise classification is the statement of Debtors as on a particular date showing the credit period availed by them in respect of each transactions/bills in their credit account. The data are useful for the timely follow up for the collection and reminder and to have a check on the utilsation of excess credit period, to identify a problematic customer account and to take appropriate remedial measures.

Usually these statements are system generated and manual follow up is comparatively a tough task compared to the time consumed for the purpose.....but this is unavoidable.  During the audit proceedure also these statements are of immense help and will add to the audit reports.

Requirements are:

1. Date or periodicity the age-wise classification is ascertained....may be on an urgent basis to speed-up immediate cash flow--or on a routine basis say: weekly, bi-weekly, monthly or quarterly so on..

2.Name of the customers and their Credit limits and credit period allowed for the retirement of their bills.

3.The complete details from their respective credit account i.e. extract of their ledger.

4.Identity of the Customer account as: Good, Problematic a/c,  Bad &Doubtful.

5.Any approvals in the regard to their request for delay in payments to seperately mention in the statement so that follow-up does not adversely affect the customer relationship.

6. Usually the requirement is classification in terms of the period like0-30 days,30-60 days,60-90 days,90 days or more  like that.

7.Age-wise classification report should be supported by "Pending delivery notes" which remain and require invoicing for want of details.  Before the preparation of Age-wise report  maximum reconcilation will be made in the account so as to bill pending delivery notes otherwise true reflections may not be characteristic of the age-wise statement prepared. A delivery-note pending more than one month may also result in an extension of credit period--so the non consideration will not serve any purpose.

8.A supplementary attachment of the Statement of Account of:

   1.Overdue acccounts will be meaningful.

   2.Request and sanctions of exceptions allowed as a special consideration and early approval.

   3. Customer details for "Pending delivery notes for invoicing" with in-ordinate delay.

9.Net summation of Previous age-wise classification + previous ageing report for the comparison and               control. 

10.Department/division/store-wise details if customer enjoys multi-shopping facilty for sanctioned limits from different locations, in the strength of  one main  facilty. This is to identify the shop which he prefers--and to know any unathorised favours received that will create a complex situation.  

Record of Debtors (Custumer and date wise) is required to prepare accounts receivables aging. Days outstanding will be calculated by calculating the difference between present day and the day balance was booked in the books of accounts.

You will need to establish the following table:

Horizantal will be the age of your invoice ( Today - invoice issuance day )

Vertical will be the customer and the amount of the invoice

                        0-30         30-60         60-90       90-120      120+

Customer

XYZ                1000

ABC                                                        2000

I agree with all

In the process of Effective Debt control, receivable analysis will be the important  thing.

To prepare the receivable analysis the following things to be taken care.

1. Sorting of entire data in currency wise, according to that we need to make the columns & for consolidation of reports, we can add1 more for local currency, in this column all the currencies will convert into system rate/month end rate.

2. Next all the data to sort client wise to input the respective credit terms

3. Next all the data to be sort date wise to get the ageing

4. As per the ageing we need to make pivot along with the remarks for pending recoveries, bad debts provision etc.