Accounts Receivable Template is a ready-to-use excel template to record your customer invoices all in one sheet. Insert your company name at the top and start using the template.
Additionally, it consists of multiple payment columns that will help you to know the outstanding receivable at any time.
What is Accounts Receivable?
As per Wiki
Accounts receivable is a legally enforceable claim for payment held by a business for goods supplied and/or services rendered that customers/clients have ordered but not paid for. These are generally in the form of invoices raised by a business and delivered to the customer for payment within an agreed time frame.
In simple terms, accounts receivable ledger consists of the list of debtors to whom we have rendered a service or supplied goods along with details like invoice number, date of invoice, date wise payments received and outstanding receivables from a particular client or all in general.
When you have bills that have been outstanding for longer periods, they are called aging. You can download and use our ready-to-use Accounts Receivable Template With Aging.
Let me share the basics of how I created this template.
Row 1 = Enter Company/Business Name. Cells A1 to K1. Merged cells.
Row 2 = Heading of the sheet. Cells B2 to K2. Merged cells. Headings can be put as Accounts Receivable Ledger or Debtors Ledger.
Row 3 = Multiple headings as numbered below
- The subheading for the Current Date in cell A3.
- Next cell B3 will reflect the current date of the system using the formula =TODAY(). The date will automatically change according to the system date. You don’t need to change it every time and this saves your time.
- The subheading for Total Receivable in E3.
- In F3, the total receivable amount to date is displayed from the data below. The formula used here is =SUM(F5: F23).
Row 4 = This row consists of subheadings for data input. For example, see the table below:
Invoice Date, Invoice number, Customer name, Total Amount of Bill, payment 1 and payment 2 and their respective date are details to be put while entering data.
For the Due date, you can set a function that automatically calculates several days for you and show the exact date of payment. For this, you need to set a function like this = cell address which contains date + Number of days for allowed. Here in our sheet, it is 60 days. So the formula entered is =A5+60. Copied to all cells below by simple copy-paste, this will apply the same settings to all cells below.
Balance here is calculated by deducting the total amount of invoices for our customers – Sum (Payment1 + payment2) etc. In this template formula used is
If you have any queries or questions, share them in the comments below and I will be more than happy to help you.