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Reconcile Outstanding Customer Balances | |
---|---|
Beginning Balance | Aging Report |
Transactions | Transaction Register |
Adjustments | Adjustment Register |
Invoice Exceptions | Invoice Exceptions Report |
Applied Receipts | Applied Receipts Register |
Unapplied Receipts | Unapplied Receipts Register |
Ending Balance | Aging Report |
Beginning Balance |
+ Transactions |
+ - Adjustments |
- Invoice Exceptions |
- Applied Receipts |
- Unapplied Receipts |
= Ending Balance |
Suggestion: Define a report set containing the above reports and specify default parameter values and printing options.
Select the same GL Dates for all the reports. Receivables requires that you print the Aging Reports as of a particular GL Date. All transactions that have a nonzero balance as of this date will be included in your agings. Therefore, to get the opening balance, submit the Aging Report as of the day before the first date of the period. This will ensure that all transactions for the first day are not included in the opening balance calculation. To get the closing balance, submit the Aging Report as of the last date of the period. See: Aging Reports.
Choose to order all the reports by customer. This will let you research transactions based on customer name or number.
Suggestion: When sorted by customer, the Aging Report does not give the details of the transactions that are included in the calculation of the outstanding balances. If you need to find out details of such transactions, you might choose to print the Aging reports ordered by type. Use either the Aging - 4 Buckets or the Aging - 7 Buckets report for reconciliation. See: Aging - 4 and 7 Bucket Reports.
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