Free Accounts Receivable Template for Excel & Google Sheets

What is the Accounts Receivable Template?

An accounts receivable template is a structured spreadsheet for tracking every invoice you've issued, every payment you've received, and every balance still outstanding — organized by customer, due date, and aging status.

This free accounts receivable template is available in Excel and Google Sheets. Download it, enter your open invoices, and you have a real-time view of who owes you what — and how overdue they are.

Why Use an Accounts Receivable Template?

Accurate Financial Tracking

This accounts receivable template Excel helps you maintain a clear record of all invoices issued, payments received, and balances due. It’s a comprehensive way to monitor your business’s financial health. In financial accounting, accounts receivable is classified as a current asset — accurate AR tracking directly affects the reliability of your balance sheet and cash flow statement.

Cash Flow Optimization

Track overdue payments and identify trends in customer behavior, ensuring timely follow-ups and improved cash flow management.

Customer Relationship Management

A detailed accounts receivable system fosters transparency and trust with clients. By providing clear invoice records and payment terms, businesses can maintain positive customer relationships.

Risk Mitigation

With features like aging analysis and late payment fee tracking, this accounts receivable template reduces the risk of bad debts and improves collection efficiency.

Ease of Use

The structured format ensures all necessary details, such as invoice numbers, due dates, and outstanding balances, are in one place, simplifying record-keeping and reporting.

What Are the Different Types of Accounts Receivable Templates

Accounts receivable can be classified into several types based on the nature of the transaction and the agreements between the business and its customers. 

1- Trade Receivables

Trade receivables, often referred to as accounts receivable, represent amounts owed to a business by its customers for goods or services provided on credit. They are typically short-term assets listed on the company’s balance sheet. Trade receivables are crucial for maintaining cash flow, as they indicate the revenue that is yet to be converted into cash.

Example:
Consider a company, ABC Electronics, that sells $5,000 worth of products to a client on a 30-day credit term. Upon delivery, ABC records a trade receivable of $5,000, which will be cleared when the customer pays within the agreed timeframe.

2- Notes Receivable

Notes receivable are similar to accounts receivable but are formalized with a promissory note. This document specifies the repayment terms, including the deadline and any applicable interest, making it a more formal agreement than standard trade receivables.

• Short-Term Notes: Payments due within a year.
• Long-Term Notes: Payments due beyond a year.

Example:
A construction company, XYZ Ltd., issues a note receivable for $20,000 with a repayment period of six months, including 5% interest. The agreement formalizes the debt, ensuring clarity on the terms and payment expectations.

3- Other Receivables

Other receivables encompass amounts owed to the business that do not arise from standard sales transactions. These include tax refunds, salary advances, interest receivables, or loans to employees or other entities.

Example:
A company loans $1,000 to an employee as a salary advance. This amount is recorded as an "Other Receivable" until it is recovered from the employee’s salary or direct repayment.

What Does the Accounts Receivable Template Contain?

1- Current Date

• Displays the latest update to ensure records reflect the most recent financial status.
• Helps maintain an up-to-date overview of outstanding balances.

2- Total Accounts Receivable

• Summarize the total outstanding invoices.
• Provides a glance at pending collections and expected cash inflow.

3- Invoice Details

• Invoice Date: Records the date an invoice was issued.
• Invoice Number: A unique identifier for each transaction, preventing duplication.
• Customer Name: Identifies the client associated with the invoice.
• Total Amount: Displays the total billed amount, including taxes and discounts.
• Due Date: Specifies when the payment is expected, helping track overdue amounts.
• Balance: Reflects the remaining unpaid amount after partial payments are made.

4- Payment Plans

• Payment Date: Logs the date when payments are received.
• Payment Amounts: Tracks multiple installments and partial payments for a structured reconciliation process.

• Installment Tracking: Allows multiple payments for a single invoice, ensuring clear documentation of outstanding balances.

   

Who Uses an Accounts Receivable Template?

Any business that sells on credit — and needs to track who has paid, who hasn't, and how long overdue invoices have been sitting — has a use for an accounts receivable template.

Small Business Owners and Freelancers

Use it to maintain a clear view of outstanding client payments without accounting software. When you're managing 10–30 active clients, a structured AR template tells you at a glance which invoices are overdue, how much is outstanding in total, and who needs a follow-up call this week.

Accountants and Bookkeepers

Use it as a working document for month-end AR reconciliation. The template provides an organized record of all open invoices that can be cross-referenced against the general ledger to confirm balances before closing the period. Pair it with a statement of account template to send clients a consolidated view of what they owe alongside the AR ledger.

Wholesale and B2B Suppliers

Manage multiple buyers on varying credit terms — net 30, net 60, net 90 — and need a single document that shows which invoices are current, which are approaching due, and which are already overdue. An AR template with aging analysis makes the collection priority obvious without manual sorting.

Finance and AR Teams in Growing Businesses

Use it to standardize AR tracking across the team before migrating to accounting software. A consistent template format means every team member records invoices, payments, and credits the same way — making the eventual migration to a system like Enerpize significantly faster and cleaner.

Startups and Early-Stage Businesses

Use it to establish AR discipline before revenue volume makes manual tracking unworkable. Starting with a structured template builds the habits — consistent invoice numbering, clear due dates, regular reconciliation — that make scaling easier.

How to Use the Accounts Receivable Template

1- Customize the Template

• Enter your business name, logo, and contact details.
• Adjust credit terms, policies, and branding elements to match your company’s financial operations.

2- Enter Invoice Details

• Input customer names, invoice numbers, and total amounts due. If you don't have a standardized invoicing format yet, start with our free invoice template before setting up your AR tracker.
• Specify due dates based on agreed-upon credit terms.

3- Record Payments

• Log received payments under the designated columns.
• Include multiple installment payments to accurately track partial transactions.

4- Monitor Outstanding Balances

• Regularly review remaining balances to identify overdue accounts.
• Utilize the total accounts receivable field to analyze overall outstanding amounts.

5- Track Overdue Accounts

• Identify overdue invoices by checking due dates against the current date.
• Use structured follow-ups for overdue accounts to minimize financial risks.

6- Apply Late Fees (If Applicable)

• Add penalties for overdue invoices based on company policies.
• Automatically update the balance to reflect any late fees incurred.

7- Generate Reports for Analysis

• Summarize accounts receivable, outstanding balances, and payment trends.
• Use data insights to refine credit terms and improve cash flow management.

8- Share and Collaborate

• Keep the template updated and share it with the finance team for smooth coordination.
• Ensure accuracy by regularly reviewing payment records and outstanding invoices.

By following these steps, businesses can simplify their accounts receivable processes, reduce overdue balances, and maintain a healthier cash flow.

Accounts Receivable Template vs. Accounts Payable Template

These two templates sit on opposite sides of the same transaction — one tracks money coming in, the other tracks money going out.

An accounts receivable template records what your customers owe you. Every invoice you issue on credit becomes an AR entry. The template tracks the invoice amount, the due date, any payments received, and the remaining balance. Managing AR well means getting paid faster and reducing bad debt.

An accounts payable template records what your business owes to suppliers. Every bill you receive from a vendor becomes an AP entry. The template tracks payment deadlines, outstanding amounts, and cash required to settle liabilities on time. Managing AP well means avoiding late fees, maintaining supplier relationships, and controlling outgoing cash.

Both templates are essential for a complete picture of your business's short-term cash position. Your AR balance shows inflows. Your AP balance shows outflows. Together, they determine your working capital at any given point. Download our free accounts payable template alongside this one to track both sides."

Accounts Receivable Best Practices

The template tracks the numbers. These habits make sure the numbers stay accurate and actionable.

Update it every time an invoice is issued or a payment is received

AR is only useful in real time. A template updated weekly is a history document — useful for reporting but not for collection. Every new invoice and every payment received should be logged the same day. Delays create gaps that compound into reconciliation problems at month-end.

Review aging weekly, not monthly

The aging analysis — current, 1–30 days overdue, 31–60 days, 61–90 days, 90+ days — should be reviewed at least once a week. Invoices in the 31–60 day bucket can still be recovered with a professional follow-up. Invoices past 90 days are significantly harder to collect. Weekly review keeps your collection effort focused on the recoverable.

Send statements before making collection calls

Before following up on an overdue invoice, send the client a current statement of account. It gives them a consolidated view of what they owe, removes the "I didn't receive the invoice" objection, and sets a professional tone for the conversation. Most delayed payments are administrative, not intentional — a statement resolves them without confrontation.

Match every payment to a specific invoice

Record payments against the exact invoice number they settle. Logging a payment as a general credit without matching it to an invoice creates AR discrepancies that are hard to trace. If a client pays a partial amount, update the outstanding balance on that specific invoice and note the payment date and reference number.

Reconcile against your general ledger monthly

At the end of each month, the total of all outstanding AR balances in the template should match the AR balance in your general ledger. Any variance means a transaction was either missed, duplicated, or misallocated. Catch it monthly and it takes minutes to fix. Let it accumulate and it can take hours to unravel. Pair this template with an accounts receivable reconciliation template to run a structured month-end check.

Set a write-off threshold and stick to it

Define the point at which an overdue invoice is written off as bad debt — typically 90–120 days past due with no response after multiple follow-ups. Writing off uncollectable debt keeps your AR balance accurate and prevents inflated receivables from distorting your financial reporting.

Accounts Receivable Action Plan

An accounts receivable action plan sets out the steps your team follows to collect outstanding invoices before they become bad debt. Use this three-step process alongside the template above:

Step 1 — Invoice on time

Send the invoice immediately after the sale or service delivery. Include the due date, payment methods, and a clear reference number that matches your AR template.

Step 2 — Follow up before the due date

At 7 days before the due date, send a payment reminder referencing the invoice number and outstanding amount. Log the follow-up date in the template.

Step 3 — Escalate overdue accounts

If payment is not received within 7 days of the due date, move the account to overdue status in the template and send a formal overdue notice. Flag accounts beyond 30 days for collections review.

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FAQs

What is an accounts receivable template used for?

An accounts receivable template is used to track all outstanding customer invoices in one place — recording invoice amounts, due dates, payments received, and remaining balances. It gives businesses a real-time view of who owes them money, how much, and how overdue each invoice is, which is essential for cash flow management and collection prioritization.

What should an accounts receivable template include?

A complete accounts receivable template should include: customer name, invoice number, invoice date, payment due date, invoice amount, payments received (with dates), outstanding balance, and aging status (current, 30, 60, 90+ days overdue). Some versions also include credit terms, contact details, and collection notes.

What is the difference between accounts receivable and accounts payable?

Accounts receivable is money owed to your business by customers for goods or services delivered on credit — it's a current asset. Accounts payable is money your business owes to suppliers for goods or services received on credit — it's a current liability. AR tracks inflows, AP tracks outflows. Both need to be managed actively to maintain healthy working capital.

How do I use an accounts receivable aging report?

An AR aging report groups outstanding invoices by how overdue they are — typically current (not yet due), 1–30 days, 31–60 days, 61–90 days, and 90+ days. Use it to prioritize collection efforts: focus on 31–60 day invoices before they age further, and escalate 90+ day invoices to a formal collection process. Review the aging report at least weekly.

How often should I update my accounts receivable template?

Daily is ideal — log every new invoice and every payment the day it occurs. At minimum, update weekly. Delayed updates create gaps in the AR record that turn into reconciliation problems at month-end. The template is only accurate if it reflects transactions in real time.

When should I write off an account receivable as bad debt?

Most businesses write off receivables after 90–120 days past due with no payment or response after multiple follow-up attempts. Bad debt write-offs should be documented and reflect a genuine assessment that the amount is uncollectable — not just overdue. Check your jurisdiction's tax rules, as bad debt write-offs may be deductible.

What is an accounts receivable action plan?

An accounts receivable action plan is a structured collection process that outlines the steps a business follows to recover outstanding invoices — from initial invoicing to overdue escalation. It typically covers invoice timing, payment reminders, and a defined threshold for escalating unpaid accounts to collections.