The aging balance is an ancient tool used since the beginnings of accounting and debt collection, it is always essential to:
- organize debt collection priorities
- identify issues in accounts receivable management
- manage performance in receivables management of a company or for a collector
- prepare data for bad debts accounting process
Even the most sophisticated credit management softwares use it as a cornerstone for reporting and management tools. Debt recovery agencies, business process outsourcing professionnals, balance cleaning ... etc use a lot aging balance to evaluate the receivable data.