Aged Payables/Receivables

Generally, you don't expect Vendors/Customers to show a Negative or Zero balance. In case there are any, it will show up here. You can take appropriate actions to resolve, wherever required.

There may be genuine reasons why the Vendor/Customer shows a negative balance, such as Advance Payment or credit on account. However, the purpose here is to look at such vendors/customers and see if there is a genuine reason. Maybe you're missing an invoice, or it is recorded but to some other similar name. You can accordingly take appropriate action, as required.

Zero balance vendors/customers appear when payment or credit is not applied against the bill/invoice. You've to apply the payments/credits to the open invoice so it doesn't show up on the Aging Report.