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Aged Balance

  • 17-06-2013 01:00PM
    #1
    kfk
    Registered Users, Registered Users 2 Posts: 546 ✭✭✭


    Can someone please explain to me what an "aged balance" means in an account statement. I often see it on the bottom of bills I receive from debtors.
    eg. I owe €3044 euro on an account

    Aged Balance
    1 month €433.16
    2 months €2611.11

    3 months onwards are blank

    Thanks


Comments

  • #2
    Jamesw2
    Closed Accounts Posts: 137 ✭✭Jamesw2


    kfk wrote: »
    Can someone please explain to me what an "aged balance" means in an account statement. I often see it on the bottom of bills I receive from debtors.
    eg. I owe €3044 euro on an account


    Aged Balance
    1 month €433.16 - MEANS THE BILL IS ONE MONTH OLD
    2 months €2611.11 - MEANS THE BILL IS TWO MONTHS OLD

    3 months onwards are blank - MEANS YOU OWE NOTHING THAT IS THREE MONTHS OLD - LUCKY YOU!:)

    Thanks

    ANSWER IN RED ABOVE


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