The report answers 'how old is the money we are owed?' A healthy report is front-loaded: most of the balance is current or under 30 days, and very little sits past 60. Money in the later buckets is either a follow-up gap or a decision that has been put off.
Run it weekly for collections and monthly for trend. Sort by the later columns to find which customers carry the late balances, and compare to last month to catch customers whose payments are lengthening.
In Reeve
Reeve reads the aging report from QuickBooks Online daily and follows up on every invoice in it, so nothing sits in a bucket unworked.