Previous | Next | Contents | Index | Navigation | Glossary | Library |
When you view your customer balances by aging bucket, Receivables calculates and displays the total outstanding amount and the credits not aged for unapplied cash, on account cash, and on-account credits. You can modify your display by specifying an aging bucket or by choosing to age or summarize open credits.
Receivables selects a transaction for aging if its GL date is prior to or the same as the current date. Once selected for aging, Receivables uses the following formula to determine the number of days past due for each transaction:
(Current Date) - (Due Date) = Days Past Due
Receivables then groups each transaction into an aging bucket based upon the number of days it is past due. For example, your customer has the following invoices, all of which are due within 30 days:
Invoice No/Amt | Trx Date | Due Date | GL Date | Current Date | Days Past Due |
---|---|---|---|---|---|
101: $500 | 01-MAY-97 | 31-MAY-97 | 30-APR-97 | 30-MAY-97 | - 1 |
102: $200 | 01-APR-97 | 01-MAY-97 | 03-MAR-97 | 30-MAY-97 | 29 |
103: $300 | 15-MAR-97 | 14-APR-97 | 15-MAR-97 | 30-MAY-97 | 46 |
104: $600 | 20-FEB-97 | 22-MAR-97 | 15-APR-97 | 30-MAY-97 | 69 |
If you choose to view this customer's past due transactions using the 'Standard' aging bucket, Receivables groups these invoices as follows:
Aging Bucket | Amount (Transaction) |
Current (-9999 to 0 days past due) | $500 (Invoice 101) |
1-30 Days Past Due | $200 (Invoice 102) |
31-60 Days Past Due | $300 (Invoice 103) |
61+ Days Past Due | $600 (Invoice 104) |
Note: This is a simplified example. Activities such as receipt applications, adjustments, and credit memos will affect the open amount if the activity GL Date is prior to or the same as the current date.
You can view open items as of a specific date by running one of the Receivables Aging reports. See: Aging Reports.
Suggestion: Check the Display Currency check box to view additional currency information such as Currency Code, Credit Limit, Credit Available, Entered Balance, Entered Amount Past Due, Entered Finance Charges and Entered Open Credits. If you check this check box, you can further limit your query by entering a Currency code. To view each customer's Bill To location, check the Display Locations check box.
Previous | Next | Contents | Index | Navigation | Glossary | Library |