How to receive money from aged receivables? and any formula in excel how to get reminder for aged receivable.

A/R aging should be looked at every day.  You can use the sort function by date on excel.  It is usually very hard to collect after a period of time and getting lawyers admitted is expensive.  If you feel that you will never be able to collect on aged A/R then contact  a factoring agency and sell your a/r for less than it is worth.