Aged payables is a report showing all outstanding amounts owed to suppliers, grouped by how long each bill has been outstanding (current, 30, 60, 90+ days).
The aged payables report (or accounts payable ageing) shows your outstanding supplier obligations organised by the length of time they have been owed. It is the mirror image of the aged receivables report. Categories typically include current (not yet due), 1-30 days past due, 31-60 days, 61-90 days and 90+ days past due. This report helps manage cash flow by showing upcoming payment obligations and identifying bills that may be overdue. Paying suppliers on time maintains good relationships and may qualify you for early payment discounts. Letting bills age beyond terms can result in late payment fees, supply disruptions and damage to your business credit rating. SortBooks tracks your aged payables in real-time through Xero, providing visibility into upcoming payments and flagging bills approaching their due dates.
SortBooks automates the bookkeeping processes related to aged payables by connecting to your Xero account and using AI to categorise transactions, reconcile bank feeds and generate accurate reports. Instead of manually managing aged payables, SortBooks handles it automatically with 97%+ accuracy - saving you hours every week and ensuring your books are always up to date and compliant.
Accounts payable (AP) represents the money your business owes to suppliers and vendors for goods or services received but not yet paid for. It is a current liability on your balance sheet.
An ageing report categorises accounts receivable or accounts payable by the length of time invoices have been outstanding, typically in 30-day buckets (current, 30, 60, 90+ days).
Cash flow is the movement of money in and out of your business. Positive cash flow means more money coming in than going out. It is often considered more important than profit for business survival.
Payment terms specify when payment is expected from a customer. Common terms include payment on receipt, net 7, net 14 and net 30 (meaning payment due within that many days).
A bill (also called a supplier invoice or purchase invoice) is a document received from a supplier requesting payment for goods or services they have provided to your business.
SortBooks handles all the complexity automatically. Just connect Xero and let AI manage your books.