Accounts Receivable and Payable Invoice Tracking Excel Model Template

Track who owes you money and how much as well as well as how much you owe and to who. Aging reports included.

by Jason Varner
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Description
This is a highly useful tool that allows any organization to keep track of their on-going accounts receivable and payable records. The initial download is an excel file, but there is also a google sheet link included on the instructions tab of the 'non-macro version', which has a bit more functionality on the reporting tabs. Aging reports have also been included to show the amount of money that is late per various ranges. Ranges include: Current; 1-30; 31-60; 61-90; 91-120; 121+

Advanced reports include seeing how much is planned to be coming due in future months per the defined due date of the invoice. There is also a report of the top 10 vendors and customers ranked by total balance.


You can look up any given vendor or customer and see all invoice activity over time or just up to a current defined date.


There are visuals and monthly summaries that show the amount invoiced / paid / current balance by vendor/customer and in the aggregate.


As far as the data entry goes, there is a database for receivables and a database for payables. Each allows you to separately define all your customers and vendors and based on those inputs, a drop down will allow you to pick from those lists when entering a given invoice.


The main fields for entry are date, invoice #, invoice amount, payment amount, work type (optional), customer name/vendor name, due date. There are also columns for extra fields if needed (10).


Note, for the google sheet version, you have to have a free google account and you simply go to the link, and when opened just go to File>Make a Copy to have your own editable version.

This Best Practice includes
2 Excel templates (macro and non macro version), 1 tutorial video, 1 google sheet template link