Utah Contractor Exam 2026 – 400 Free Practice Questions to Pass the Exam

An "aging" report is primarily used as a way of keeping track of overdue accounts. This financial document categorizes accounts receivable based on the length of time an invoice has remained unpaid. Businesses use aging reports to identify which customers have outstanding balances and how long those balances have been overdue. This information is crucial for the company's cash flow management and collection processes, as it highlights accounts that may require follow-up action. By monitoring overdue accounts, businesses can implement strategies to improve their collections and reduce the amount of capital tied up in unpaid invoices.