An aging schedule typically categorizes the various accounts by the length of time each invoice is outstanding.

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An aging schedule is a report that categorizes a company's accounts receivable according to the length of time an invoice has been outstanding. Generally, the older an invoice, the greater the likelihood that it will never be paid. Hence, an aging schedule helps companies identify unpaid invoices that require attention and potential collection actions.

An Aging Schedule Typically Categorizes the Various Accounts by the Length