An aging report (or an accounts receivable aging report) refers to a record of overdue invoices, accounts receivable, or unused credit memos by periodic date changes. Businesses use aging reports to determine which customers have outstanding invoice balances.
As a collection tool, an aging report makes it easy for business owners and senior management to identify late-paying customers or bad debts, and analyse how their collection processes are faring. Thus, given its use as a collection tool, you could configure your reports to contain the contact information for each customer to make it easier to follow up with them.
Typically, accounts receivable aging reports contain invoices. However, as stated earlier, they can also include credit memos customers have not used. Credit memos are accounts payable and refer to transactions posted on customers’ invoices to serve as a payment or reduction.
NOTE: The following link provides an extensive overview of the report, along with an illustrative sample output. The one-pager document provides in-depth information related to the parameters and Oracle mapping being used in the report.