to select the Customer(s) to run aging for. Use this option if you only want to run aging for one customer or selected customers only.Use Aging to process open documents and determine when payments are due, or past due, from customers, as well as when your vendors are expecting to receive payment from you.
The process of aging and analyzing the results is a critical step for managing cash flow. This information allows the AR manager to determine if/when they want to make collection calls.
Accounts Receivable and Accounts Payable invoices may be aged at the same time or separately depending on which check boxes are selected in this screen prior to running the process. Aging must be run prior to running statements for a given aging date.
Note: The Aging screen is the same whether you open it from Financials | Receivables or Financials | Payables. The aging process is normally run at the end or just after the end of the month and may be set up to run automatically by the Beyond Software support team.
Open Aging under Financials | Receivables.
In Aging Date, specify the date to be used as the date to determine how many days past due an open document is.
Select the Age Receivables check box to have the open balance receivables documents be processed. Leaving this box unchecked will result in the Accounts Receivable aging process being skipped.
In Customer Class, select the group of documents to age. You can age the documents by an individual customer class or select All to age all open documents for all customer classes at the same time.
In Statement Cycle, select the cycle to run aging for. You may age documents by an individual statement cycle or select All to age all open documents for all statement cycles at the same time.
Click Customer Lookup to select the Customer(s) to run aging for. Use this option if you only want to run aging for one customer or selected customers only.
Run Process - If you only want to age the Receivables documents, verify that only Age Receivables is selected and click Run Process from the toolbar.
The values in this section default from Receivables Policies under Financials | Setup. This section is display-only and is for informational purposes only.
Age Invoices By displays the default option defined in the Age Invoices By field in Receivables Policies. Documents may be aged by Due Date or Invoice Date.
Aging Categories represents the default options set up in Receivables Policies. For example, aging categories may be defined as Current (0-30), 31-60, 61-90, 91-120 and Over 120.
If the Include Adjustments In Aging check box is selected, Adjustment type documents will be included in the aging process.
If the Include Finance Charges In Aging check box is selected, Finance Charge documents will be included in the aging process.
If the Include Payments In Aging check box is selected, Payment documents will be included in the aging process.
Select the Age Payables check box to have the open balance payables documents processed. Leaving this box unchecked will result in the Accounts Payable aging process being skipped.
In Vendor Class, select the group of documents to age. You can age the documents by an individual vendor class or select All to age all open documents for all vendor classes at the same time.
Click Vendor Lookup to select a specific Vendor to run aging for. Use this option if you only want to run aging for one vendor at a time.
Run Process - If you only want to age the Payables documents, verify that only Age Payables is selected and click Run Process from the toolbar. If you want to age Receivables documents too, verify that Age Receivables is selected before clicking Run Process.
The values in this section default from Payables Policies under Financials | Setup. This section is display only and is for informational purposes only.
Age Invoices By displays the default option defined in the Age Invoices By field in Payables Policies. Documents may be aged by Discount Date, Due Date and Invoice Date.
Aging Categories represents the default options set up in Payables Policies.