Tech Note: Reconciling the AP Past-Due Aging Report and AP Payable GL Account

An aging report is an important tool in the effective management of your company’s payables. If the report indicates that most of your bills are past due, this could be an indication that you are relying heavily on your trade credit.

The Past-Due Aging Report in AccountMate allows you to generate an aging summary of your invoices as of a certain date. It provides a complete list of current and past-due accounts to help you analyze the vendor balances and reconcile these balances with the Accounts Payable GL Account ID balance in the General Ledger (GL). Regular reconciliation of vendor accounts allows you to spot early any accounts payable management issues to protect the company from major problems. 

Article #1152: Reconciling the AP Past Due-Aging Report and Accounts Payable GL Account ID Balance discusses the use of the Past-Due Aging Report and General Ledger Listing during the reconciliation process. It also provides tips for reconciling vendor balances.