Accounts Payable with Aging in Excel
Make Accounts Payable with Aging in Excel to keep records of invoice due date and pending amounts.
All kind of Payable is the liability for any company and is recorded in the current liabilities section. Hence, Accounts Payable is a short-term debt which needs to be paid off to avoid default.
Normally, Accounts Payable is a credit balance. When you record a vendor invoice, you will credit Accounts Payable and debit another account as per the double-entry accounting system.
Simultaneously, when you pay your Accounts payable, you will debit Account payable and credit Cash. Therefore, the credit balance in Accounts Payable should be equal to the unpaid vendor invoices.
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