Listen to this articleQuickBooks accounts receivable report come in handy when you want to track and manage outstanding payments. It is common for a business to have an undefined number of invoices pending. However, time is of great essence when it comes to repayment. If the payments are pending for long, they can become debts.
Thus, the business might risk losing much profit to bad debts. The advantage of tracking accounts receivables isn’t limited to that; there are several others, which we will discuss in detail in this article.
 | This blog will explore the importance of the aging report in QuickBooks. Also, we will discuss how to run the QuickBooks accounts receivable report. If you require assistance running the same in QuickBooks, reach out to the team of experts at 1855-546-5024 |
What is Accounts Receivable Aging Report in QuickBooks?
A QuickBooks accounts receivable report, also commonly known as an aging report, contains all the invoices of the pending customer payments to the company. Thus, it is a report you can use to track all the payments and ensure timely payments.
QuickBooks accounts receivable report is a powerful tool that allows you to take care of the pending customer payments. The accounts receivable aging report in QuickBooks lists all the outstanding invoices.
Thus, you can track all outstanding payments from customers on time. In addition, with the aging report in QuickBooks, you can also set up payment reminders, which help avoid turning unpaid invoices into bad debts.
Importance of QuickBooks Aging Report in QuickBooks
At first glance, you can recognize the obvious importance of QuickBooks accounts receivable report. It helps you track and manage the pending customer payments in one place and ensure no invoices go unpaid.
Moreover, the accounts receivable report helps the business foster better customer relationships. Now, this, in turn, has immense significance for a business.
Managing the accounts receivable and ensuring timely payments enhances cash flow. Thus, the business always has enough cash (working capital) to meet short-term liabilities. This results in the smooth running of business operations and enhances output and productivity.
Maintaining healthy accounts receivable also aids the profitability of the business. This is because this ensures that the pending invoices are paid on time, preventing bad debts. Losing a portion of the company’s profits as bad debts will directly affect the business’s financial health.
Secondly, the company can use the enhanced cash flowing into the business to fuel fruitful ventures and ensure the operations run seamlessly.
How to Run Accounts Receivable Report in QuickBooks Desktop
The accounts receivable aging summary report in QuickBooks Desktop shows the total outstanding balances and the time they are past due.
Here’s how you can run QuickBooks accounts receivable report:
- Navigate to Reports.
- Now, head to the Customers & Receivables section.
- Now, choose among the:
- Accounts receivable aging summary.
- Accounts receivable aging summary.
- Open Invoices.
- You may customize the report as you require. For example, you can ensure that the report only shows active or non-zero accounts receivable. Customers who have paid off their invoices don’t appear in the report.
- You can set the aging period to 30 days, 60 days, 90 days, and so on. You can also set the number of aging periods, such as period one from day 1 to day 30 and period two from day 31 to day 60.
- You can use the aging method to categorize the accounts receivable based on their current or report status on a specific date.
- Once you are done customizing, tap on the Run Report button.
How to See Customer Transactions in QuickBooks Desktop
Here’s how you can see the customers’ past transactions in QuickBooks Desktop. Moreover, you can see the related payments for the invoices as well.
- In the top menu bar, locate Reports. Click on it.
- Now, choose Customers and Receivables.
- Click on the Transaction List by Customer among all your reporting options.
- Now, you will see the Customize option.
- Choose the filters for the accounts type and columns to customize the report.
- Once done, tap on OK.
Also, to see the related payments for the invoices, click on the Transaction button in the top right corner.
How to Run Accounts Receivable Report in QuickBooks Online
This section will show how to run an accounts receivable report in QuickBooks Online. Now, you can run two types of reports in QuickBooks Online. These are:
- Accounts receivable aging summary report.
- Accounts receivable aging detail report.
Let us look at these two reports one by one.
Accounts Receivable Aging Summary Report
The accounts receivable aging summary report in QuickBooks Online shows the total outstanding balances and the duration of their past due status.
Here’s how you can run QuickBooks accounts receivable report:
- Navigate to Reports.
- Now, head to the Who owes you section.
- Choose Accounts receivable aging summary.
- You may customize the report as you require.
- For example, you can ensure that the report only shows active or non-zero accounts receivable. Customers who have paid off their invoices will not appear in the report.
- You can set the aging period to 30 days, 60 days, 90 days, and so on. You can also set the number of aging periods, such as period one from day 1 to day 30 and period two from day 31 to day 60.
- You can use the aging method to categorize the accounts receivable based on their current or report status on a specific date.
- Once you are done customizing, tap on the Run Report button.
Accounts Receivable Aging Detail Report
The accounts receivable aging report shows the customers with due balances and how long the transactions have been pending over the due date.
Here is how you can run the accounts receivable aging detail report.
- Navigate to Reports.
- Now, head to the Who owes you section.
- Choose Accounts receivable aging detail.
- You may customize the report as you require.
- You can set up the minimum number of days past which the payment is pending.
- You can also set the time range in which you want to see the accounts receivable report.
- You can set the aging period to 30 days, 60 days, 90 days, and so on. You can also set the number of aging periods, such as period one from day 1 to day 30 and period two from day 31 to day 60.
- You can use the aging method to categorize the accounts receivable based on their current or report status on a specific date.
- Once you are done customizing, tap on the Run Report button.
Moreover, you can also see the outstanding VAT column in the report.
- To do so, click on the Gear icon.
- Mark the Outstanding VAT checkbox to add this column to your accounts receivable report.
How to Print Accounts Receivable Report in QuickBooks Online
Printing QuickBooks accounts receivable in QuickBooks online isn’t hard.
- Firstly, run the report using the steps listed above.
- Now, look for the print icon in the same window. Follow the on-screen instructions.
You will be able to print the accounts receivable report successfully in QBO.
Creating Memorized Accounts Receivable Reports with Email Reminders
Following the instructions below, you can create memorized accounts receivable reports with email reminders.
- Navigate to Reports.
- Now, enter accounts receivable in the search bar.
- Now, choose among the
- Accounts receivable aging summary.
- Accounts receivable aging detail.
- You may customize the report as you require, and in the end, click on Save customization.
- Fill in the custom report’s name and save it once done.
- Now, navigate to Reports and then Custom Reports.
- Choose the report you just made from the drop-down menu.
- Click on Edit.
- Turn on the email schedule button.
- Set the recurring schedule for the email as you require.
- Now, enter the email address.
- Finally, click on Save and Close.
This will create memorized reports with set email reminders.
Bad Debts
Although QB’s accounts receivable report helps you manage the pending payments, sometimes some of these payments turn into bad debts.
Bad debts are uncollectible balances you cannot hope to receive from customers or clients. You should write off the bad debts to maintain healthy company finances.
Final Thoughts
With this guide, we tried our best to help you run QuickBooks accounts receivable reports in both QuickBooks Online and Desktop. However, if you find the methods hard to follow or have a query, connect with our support team. The QB experts are available 24/7 to resolve any issues related to QuickBooks accounting. Dial 1855-546-5024 now!
FAQs
Running an Accounts Receivable Aging Detail report in QuickBooks is quite easy, and you can do so by going to the Reports menu, selecting Accounts Receivable Aging Detail in the Find report by name field, and selecting the report date under the Report period field. Finally, select the Run Report option.
Disappeared reports might result from data damage, which you can fix using QuickBooks Verify and Rebuild Data Utility. To run it, go to the File menu in QuickBooks, select Utilities, and Verify Data. If data damage is found, run the Rebuild Data Utility under the Utilities drop-down in the File menu.
Currently, no option exists to run A/R Aging by Class in QuickBooks Online for Contractors. However, as a workaround, you can run the Account Receivable transaction report from the Balance Sheet and group this report by Class.
