What it is
The aging report shows who owes you money and how long they have owed it. It sorts what is unpaid into groups by how late it is, so you can chase the oldest money first. Opening balances and credit notes are taken into account.
Why you’d use it
It shows who to chase first. A R4 500 invoice that is a week late is a reminder. A R4 500 invoice that is four months late is a phone call, and maybe money you will never see.
The longer a debt is left, the harder it is to collect. This report puts the oldest money where you can see it.
What you need first
- Invoices you have sent. Drafts, voided invoices and fully paid invoices are left out.
- Payments recorded in the app. If a client paid you but you did not record it, the report still shows them owing.
How to do it
- On the InvoiceZen tab, tap the settings icon at the top right to open Business Profile.
- Under Tools, tap Reports, then Aging Report.
- Look at the buckets along the top and the Total Outstanding below them. The report is always worked out as of today.
- Tap a bucket, such as 61-90 Days, to see only the clients with money in it. Tap it again to go back to All Clients.
- Tap Share as PDF to send it to your bookkeeper.
What it costs
Nothing extra. The aging report is part of every plan.
Common questions
What does each bucket mean?
The age is counted from each invoice’s due date.
- Current: not due yet.
- 1-30 Days: up to 30 days past the due date.
- 31-60 Days, 61-90 Days: the same, further along.
- 90+ Days: more than three months late. Chase these now.
A client’s statement uses the same columns.
How is each amount worked out?
For each invoice: the total, minus payments you recorded, minus any credit notes against it. Every credit note counts, even one you have not shared yet. If nothing is left, the invoice drops off the report.
My client owed me from before I used InvoiceZen. Is that included?
Yes, if you added it as an Opening Balance on the client, or imported it. It is aged from its Balance Date, the way an invoice is aged from its due date. So an opening balance dated six months ago lands in 90+ Days. Payments recorded against it reduce it. See Import clients.
Why does this total differ from the revenue report?
They answer different questions. This report shows what is still owed today, for all time. The revenue report shows what you billed and received in a chosen period.