A/R Aging report
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A/R Aging Report
The Accounts Receivable Aging report is different from the standard reports. Columns are provided to calculated Aged amounts as well as to list Customer information.
- Company DBA: The Commercial Name that will be invoicing this customer account.
- Account #: The Account number assigned to this customer account.
- Account: The Name of the Customer Account.
- Account Status: The Status (Active/Inactive/user-defined statuses) assigned to this customer account.
- Account Category: The Account Category assigned to this customer account.
- Phone: The Phone Number recorded for this customer account.
- Currency: The Currency (CAD$, US$, etc.) assigned to this customer account.
- Last Payment Date: The date of the last payment recorded for this customer account.
- Last Payment Amount: The amount of the last payment recorded for this customer account.
Glossary:
Transaction: any item in the customer’s account that can affect the balance of the account (Invoice, Credit Note, Payment, Debit Adjustment, Credit Adjustment, Late Fee, etc.)
Transaction date: The date of record for when the transaction occurred, as opposed to the ‘create_date’ which refers to the date that the transaction was added to the database.
Transaction amount: The amount of record for the transaction (Invoice/Credit Note Total, Payment/Adjustment Amount
Transaction applied amount: the amount applied against a transaction originating from other transactions
Transaction balance: the amount outstanding, after applied amounts, remaining for a transaction.
‘As Of’ date: cut-off date for transactions to be included in the Aging report.
Outstanding amounts are aged and counted in the following columns:
- Current: from the 'As Of' date to the corresponding day of the previous month plus 1 day
- 30-days: from one month prior to the 'As Of' date to the corresponding day of the previous month plus 1 day
- 60-days: from two months prior to the 'As Of' date to the corresponding day of the previous month plus 1 day
- 90-days: older than three months prior to the 'As Of' date
- Balance: the sum total of all transactions posted to the account (Sum(Invoices) - Sum(Credit Notes) - Sum(Payments)
- (Payment applications should have no effect on the Balance amount)
The following rules are used to calculate the Aged column amounts for the Aging report:
- Ignore any transaction dated after the ‘As Of’ date specified when calling for the report.
- If you call for an Aging with an ‘As Of’ date in the past, and a transaction has been entered into the system with a transaction date on or before the ‘As Of’ date, that transaction will be included in the Aging.
- If you call for an Aging with an ‘As Of’ date in the past, and a transaction has been entered into the system with a transaction date on or before the ‘As Of’ date, that transaction will be included in the Aging.
- Transactions with a non-zero balance will be presented in the Aging report as follows:
- If the transaction balance is a debit amount, it will be aged according to the transaction date.
- If the transaction is a credit note with a non-zero amount, it will be aged according to the transaction date.
- If the transaction is a payment with a non-zero amount, it will be recognized in the Current column
- If the transaction balance is a debit amount, it will be aged according to the transaction date.