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How To Run Accounts Payable Aging Reports In QuickBooks Online 2016 - YouTube
Channel: FitSmallBusiness
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welcome to the fit small business
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QuickBooks Online training course in
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this lesson we're going to cover how to
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run an Accounts Payable aging report in
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QuickBooks Online so follow along with
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me
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login to your QuickBooks Online account
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now or click the link below for a free
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30-day trial of QuickBooks Online you
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can also click this link to access our
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full QuickBooks Online course and other
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helpful resources let's get started the
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AAP aging report is the exact opposite
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of the AR aging report which we covered
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in the previous lesson the AP aging
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report provides a list of unpaid vendors
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that you owe in order for this report to
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work you must set up the payment terms
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your suppliers have extended to you in
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QuickBooks and the setting up your
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vendors lesson we walk through step by
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step how to set up payment terms click
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here to access this tutorial similar to
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the AR aging report the ap aging report
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provides you with the payments that you
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have coming up with this information you
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can determine how much cash you will
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need to meet your obligations it is
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important to pay the suppliers who
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extend you credit on time so that you
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can maintain a good payment history
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doing so can also open the door for you
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to increase the current credit amount
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that they have extended to you
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maintaining a positive payment history
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can also improve your business credit
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rating click here to read our article on
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business credit rating here you will
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find our ap aging report for our
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fictitious company paul's plumbing we will
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review paul's ap aging report to help
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demonstrate the components starting with
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the date similar to the balance sheet
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the AP report is as of a specific date
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in this example this ap aging summary
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report is as of September 30th 2016 item
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number two shows the aging categories
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this report is organized by vendor and
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then by five different aging buckets
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similar to the AR aging report the
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current column indicates invoices that
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are not yet do beginning with the 1 to
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30 day column each category represents
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the number of days your invoices
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our past you if you're having difficulty
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meeting your obligations in a timely
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manner pick up the phone and call your
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supplier chances are they will be happy
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to extend you some additional time to
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pay your bills
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in addition most of them will take a
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partial payment or set up some type of
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payment plan for you the worst thing
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that you can do is not communicate with
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them at all
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totals by group is indicated here in
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section 3 a good rule of thumb is to
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make sure that the majority of your
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outstanding payables stays within the
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first three columns it should be a rare
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occasion that you have something
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creeping to the 61 and over categories
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if you do be sure to address it as
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quickly as you can with your supplier
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you can run an AP aging report pretty
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quickly in QuickBooks from the home page
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you want to navigate to the report
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Center by clicking on reports make sure
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that you are on the recommended tab and
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then go ahead and click on ap aging
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summary from this screen we have several
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options to choose from when running this
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report starting with reporting period
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you want to select the reporting period
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that you would like to run the report
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for from the drop down you can select
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the preset time periods that QuickBooks
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has or you can indicate a specific date
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in this field the show non zero or
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active column allows you to show only
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active vendors or suppliers all vendors
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and suppliers or just those that have a
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balance other than zero and you can do
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the same for the columns as well days
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per aging period allow you to select the
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number of days within each category so
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for example we've got 1 2 30 31 to 60 60
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190 each of these have 30 days within
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their category and we've got 4 buckets
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and so you have the option to actually
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change that up to suit your business
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needs once you've made all the
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selections that you need to you simply
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just click the run report button
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and it will run the a.p aging summary
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report for you so keep in mind that this
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is an A
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P aging summary report so these are
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summarized totals of what you owe your
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suppliers in order to get to the
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specific invoices that you have
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outstanding or bills that you have
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outstanding with your suppliers you want
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to click on make sure you are on the
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vendor that you want to take a look at
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and then if you just click on the amount
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it will drill down to an AP aging detail
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report that will show you the invoice
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details that make up that balance and so
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here as we can see ap aging detail we've
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only got one bill outstanding so there's
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one billed that's for that total
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outstanding balance of seven hundred and
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fifty-five dollars so you do have the
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option to email this report print the
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report or you can export it to excel by
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now you should have a better
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understanding of how the ap aging
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summary report can help you stay on top
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of the unpaid vendor invoices so that
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you can be sure to pay your suppliers in
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a timely manner here are a few things
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that you should implement at your
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earliest convenience be sure to enter a
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vendor bills into quickbooks online as
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soon as possible make sure that payment
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terms are set up in quickbooks for all
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vendors be sure to communicate to your
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vendor if you are going to be late with
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payment and finally review the ap aging
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report on a weekly basis to stay on top
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of your bills that wraps up the lesson
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on how to run an Accounts Payable aging
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report in quickbooks online to access
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our full quickbooks online course or any
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of the other lessons in this series
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click this link you can also find a link
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below this video for a free 30-day trial
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of quickbooks online if you have
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feedback about this course or if you
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