Aging Request For Payments

ISO 20022 Messaging = Clean Data, Clear Invoicing, and Consistent Reporting

Using ISO 20022 structured messaging, your Request for Payments become smarter and more traceable. Whether you’re requesting payment from a single client or processing thousands of open receivables, TodayPayments.com ensures your data is consistent, auditable, and settlement-ready.

What You Get:

• ✅ Standardized file structure for scalable processing
• ✅ Embedded metadata for easier payment matching
• ✅ Alias-based invoicing (no sensitive account info needed)
• ✅ Compatibility with all U.S. financial institutions and credit unions
• ✅ Confirmation of Payee to verify identity before payment is processed
• ✅ Hosted .html payment links to streamline payment collection

All roads lead to faster collections, cleaner accounting, and fewer payment errors.

Free Bank Reconciliation Templates for Aging Receivables

To help your team close the loop, TodayPayments.com offers free bank reconciliation templates designed to match RfPs with incoming payments. These customizable Excel sheets make it easy to track which invoices are cleared, outstanding, or overdue — and ensure total visibility across your receivables.

Reconciliation Made Simple:

• ✅ Automatically match payments to invoice IDs
• ✅ View real-time settlement status from FedNow® and RTP®
• ✅ Customize filters by customer, date, amount, or payment type
• ✅ Align with your ERP or accounting platform
• ✅ Keep your books up to date — with no manual matching headaches

When managing the aging of digital invoicing Request for Payments (RfP) in a spreadsheet, you'll want to create a structured document that allows you to track and analyze the payment status over time. Here's a guide on how to structure your spreadsheet:

Spreadsheet Columns:

1. Vendor/Requester Name:

• Identify the entity or individual making the payment request.

2. Invoice/Request Number:

• Unique identifier for each digital invoice or payment request.

3. Invoice/Request Date:

• Date when the digital invoice or payment request was generated.

4. Due Date:

• The date by which the payment is expected.

5. Amount Requested:

• The total amount requested for payment.

6. Payment Date:

• Date when the payment is made.

7. Days Outstanding:

• Automatically calculated field (Payment Date - Due Date) to determine how many days the payment is overdue.

Spreadsheet Formulas:

1. Days Outstanding Formula:

• Create a formula in the "Days Outstanding" column to calculate the number of days the payment is overdue. Use a formula like: =IF(ISBLANK([Payment Date]), TODAY() - [Due Date], [Payment Date] - [Due Date]).

Aging Buckets:

1. Current (0-30 days):

• Use conditional formatting to highlight payments that are within the current period.

2. 30-60 Days:

• Apply conditional formatting to highlight payments that are 30 to 60 days overdue.

3. 60-90 Days:

• Apply conditional formatting to highlight payments that are 60 to 90 days overdue.

4. 90+ Days:

• Apply conditional formatting to highlight payments that are more than 90 days overdue.

Summary Section:

1. Total Amount Outstanding:

• Sum the amounts for all outstanding digital payment requests.

2. Average Days Outstanding:

• Calculate the average number of days outstanding for all payment requests.

Visualization:

1. Graphs/Charts:

• Create charts to visually represent the aging of digital payment requests over time.

Example Structure:

This structure allows you to track and manage the aging of digital payment requests effectively. Customize it based on your specific needs and the level of detail you require for your financial tracking. Regularly update the spreadsheet with new payment requests, payment dates, and any other relevant information.