Accounts Receivable Aging

Aging Accounts Receivable Real-Time Payments – FedNow® and RTP® Reconciliation Tools

Aging Accounts Receivable Real-Time Payments gives businesses full visibility and control over unpaid invoices and incoming funds by using instant settlement rails like FedNow® and RTP®. Every transaction processed through a Request for Payment (RfP) is immediately reconciled in real time and available to track, download, or audit—at no extra cost.

With access to free Excel spreadsheet reports and live bank reconciliation dashboards, clients can import, upload, and download their entire A/R lifecycle directly through secure U.S. financial dashboards.

Real-Time Visibility into Outstanding Receivables

Traditional invoicing and AR aging reports rely on batch settlement and slow ACH data. With real-time payments, businesses can now track invoice status the moment a customer makes a payment via FedNow® or RTP®.

This instant visibility into paid vs. unpaid receivables improves your working capital strategy, eliminates guesswork, and supports just-in-time delivery or credit decisions.

Key Benefits and Features for Clients:

• Free Excel spreadsheet reports of all RfP payment activity
• Real-time updates for aging receivables and bank reconciliation
• Support for ISO 20022-based uploads and RfP messaging
• Instant payment posting via FedNow® and RTP®
• Alias-based tracking using mobile or email identifiers
• No chargeback risk—confirmed good funds only
• Reconciliation exports with payment timestamps and transaction IDs
• No need for manual data entry or paper reports
• Dashboard access for importing, uploading, and downloading AR files
• Full compatibility with QuickBooks® and ERP systems
• No bank visit or in-person paperwork—fully online enrollment

Creating an Accounts Receivable (AR) Aging report for FedNow and RTP (Real-Time Payments) using Excel software involves setting up a dynamic spreadsheet to track and manage outstanding receivables. Here's a general guide on how you might achieve this:

1. Excel Template Setup:

1.     Headers:

·        Create column headers in Excel for essential information such as Customer Name, Invoice Number, Invoice Date, Due Date, Amount, Payment Status, and any other relevant details.

2.     Data Entry:

·        Enter the details of each receivable into the respective columns.

2. Status Tracking:

3.     Payment Status:

·        Include a "Payment Status" column to track whether the invoice is outstanding, partially paid, or fully paid.

3. Days Outstanding Calculation:

4.     Days Outstanding Column:

·        Create a column to calculate the number of days each invoice is overdue. Use a formula like:

excelCopy code

=IF([Due Date Cell] < TODAY(), TODAY() - [Due Date Cell], 0)

4. Categorize Outstanding Invoices:

5.     Age Categories:

·        Create aging categories (e.g., "Current," "1-30 Days," "31-60 Days," etc.) based on the days overdue.

6.     Status Column:

·        Create a column to categorize the status of each invoice, such as "Outstanding," "Partially Paid," "Fully Paid," or "Void."

5. Analysis and Reporting:

7.     Total Outstanding Amount:

·        Create a formula to calculate the total outstanding amount. Use the SUMIFS function to sum amounts based on aging categories.

8.     Charts and Graphs:

·        Utilize charts or graphs to visually represent the distribution of outstanding invoices.

6. Dynamic Features:

9.     Dynamic Filters (Optional):

·        Use Excel's dynamic filters or tables to make the data interactive. This allows users to filter and sort data dynamically.

10. Conditional Formatting:

·        Apply conditional formatting to highlight overdue invoices or specific status categories for better visualization.

7. Integration (if applicable):

11. Integration with FedNow and RTP Data:

·        Explore integration options with FedNow and RTP systems or any associated APIs for real-time data updates. This may involve importing data directly into Excel.

8. Regular Updates:

12. Data Entry Updates:

·        Regularly update the Excel template with new invoices, payments, or changes in payment status.

9. Automation (if applicable):

13. Automated Alerts (Optional):

·        Set up automated alerts or notifications for specific conditions (e.g., overdue invoices).

10. Documentation and Audit:

14. Documentation:

·        Keep a record of transactions, updates, and any adjustments made for audit and reference purposes.

11. FedNow and RTP Specifics:

15. Include FedNow and RTP Details:

·        Depending on the integration, include columns for FedNow and RTP-specific details, such as Transaction IDs, Sender's Name, and relevant information.

Notes:

• The specific columns and formulas may vary based on your unique requirements and data structure.
• Regularly reconcile your Excel template with the actual transaction data from FedNow and RTP for accuracy.

Remember to always refer to the latest documentation for FedNow, RTP, and any associated systems for any specific features or updates related to data integration.