One of the most essential parts of running a business is maintaining positive cash flow. Tracking your past due receivables is an important element. The Business Edge helps ensure you have accurate and up to date information with the Accounts Receivable Aged Analysis reports. The reports can be generated by Customer or By Salesperson. They can be found through the path:
Accounts Receivable System
Accounts Receivable Reports
Aged Analysis Reports
Aging by Customer
Aging by Salesperson
If the Salespeople are responsible for their own accounts it is recommended you run the Aging by Salesperson.
There are several options when running the Aging report. The default settings above are the most common.
If you have the Branch System enabled you can choose to view one or all Branches. You can also choose one or all A/R General Ledger Accounts if you have multiple.
You can run for one, a range, or all Salespeople.
You can choose All Customers, a range, or a single Customer. The most common sequence is by Customer Name but it can also be generated by Customer Code.
The “As Of” Date applies to the Date to Age by field, you can run the Aging as of any date. You will see all invoices that were open as of the selected date.
When you use the default settings as shown above, using (5) for the Number of Periods and 30 for the Days per period, you will have 5 columns ranging from 0-30 to 120+. The smallest number of Periods you can enter is (2) which will give you columns for 0-30 and 30+.
The report can age Invoices based on the Invoice Date or the Due Date. The most common selection is Invoice Date, this is the date that will match your General Ledger value. For collection calls you may want to run it by Due Date
Show all Invoices for Customer is only used when using the Select Period option on the right. If you are omitting certain periods, you may want to see all Invoices that are open.
If you choose Yes to Summarize, one line per Customer will display with the Total Open, Current Amount and Open amounts for the Periods selected.
On the right under F3, Select Periods you have the ability to select one, all, or any combination of Periods. This recommended when doing collection calls so you can condense the Aging to only past due invoices.
In this instance we chose to see invoices for the three periods, 61-90 days, 91-120 days and over 120 days for one Salesperson including all Branches. We also said Yes to Summarize Customers.
One line per customer is displayed with Total Open as well as Current Amount and Open amounts for the Periods selected. A user will highlight a Customer and double click or enter on the line to get to the Customer Inquiry screen. Customer Terms along with Customer phone number will be displayed for ease in making collection calls. All of the Customer open Invoices are listed as well.
This is where you can interactively make your collection calls and put any conversations in the internal notes. This way the next time you call the customer you can see the history of previous calls.
You can highlight and output a specific invoice, send a Statement, enter Invoice Notes, and Customer Notes, mark an Invoice Contested or enter a CRM Action if you have the optional CRM module. To view additional information specific to an Invoice, highlight the invoice then double click or press enter.
You will now be in the Customer Invoice Inquiry screen where you can utilize any of the functions on the right such as viewing payment detail, sending a copy of an Invoice as well viewing detail line items and Invoice Totals for instances of discrepancies.