The Accounts Receivable (A/R) Aging Summary report summarizes unpaid invoices and statement charges in accounts receivable, grouped by customer and billing period. For each customer who owes money, the report shows what the customer owes for the current billing period and what they haven’t paid from previous billing periods.
Accounts receivable directly affect your company’s cash, close attention should be paid to customers that are extending the time it takes to collect your accounts receivable. The longer accounts are left unpaid, the more likely it is that you will not be able to collect on that account. A large number of overdue amounts may signal that your business needs to tighten credit policies toward new and existing customers.
Note: You can choose to age bills and invoices by either Due Dates or Transaction Dates. Go to Setup > Accounting > Accounting Preferences > General > Aging Reports Use.
To access the Accounts Receivable (A/R) report:
1. Go to the Reports drop down.
2. Click Customer/Receivables.
3. Select A/R Ageing.
The 1-30, 31-60, 61-90, and >90 columns show overdue balances from previous billing periods. These aging periods are defined using the Interval and Duration fields.
Note: By default the Each is set to Days. But other options include: Weeks, Months & Periods.
4. You can choose to age invoices by due dates or transaction dates.
5. Click the Refresh button to update the report using the selected filters.
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