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:

1. Ignore any transaction dated after the ‘As Of’ date specified when calling for the report.
   
   1. 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.
      
2. Transactions with a non-zero balance will be presented in the Aging report as follows:
   
   1. If the transaction balance is a debit amount, it will be aged according to the transaction date.
      
   2. If the transaction is a credit note with a non-zero amount, it will be aged according to the transaction date.
      
   3. If the transaction is a payment with a non-zero amount, it will be recognized in the Current column
      

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