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' AI CFO can show your aged payables and the bills coming up for payment, using live Xero data.
SortBooks helps with the bookkeeping behind aged payables by connecting to your Xero account and using AI to suggest the right account for transactions sitting in catch-all accounts, learning from your own past coding. Instead of fixing aged payables by hand, you review each suggestion, approve it, and SortBooks updates Xero, GST code included. Then ask the AI CFO about your numbers, using live Xero data.
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.
Connect Xero, check the AI's suggestions and approve the changes. SortBooks updates Xero for you.