Accountants use Excel all the time. This video, which is excellent for Accounting students, looks at a Accounts Receivable (AR) or Accounts Payable (AP) exercise. Accounts Payable is what your company owes to vendors and suppliers. Accounts Receivable is what is due to your company from your customers. A lot of companies use the term Net 30. That means an invoice for AR is due in 30 days. For AP, the vendor wants their money in 30 days. Both AR and AP are listed on the balance sheet. AR shows up under current assets. AP is a liability and shows up under current liabilities.

Chapters:
00:00 Introduction
00:50 Sample data presentation
00:59 Insert current date
01:13 TODAY function
01:47 Accounts Payable/Receivable
02:27 TEXT function
03:37 LEN function
03:53 TEXT with zero-padding
05:24 Increase/Decrease Indent
05:53 Comma style
06:32 Invoice due date
06:57 Age of invoice
07:52 Days overdue
08:21 Average nr of days overdue
08:55 AVERAGEIF
11:30 Conditional Formatting
13:50 Closing remarks

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