Aging Buckets
Aging buckets are time periods you can use to review and report on your open receivables. For example, the 4-Bucket Aging bucket that Receivables provides consists of four periods: -999 to 0 days past due, 1 to 30 days past due, 31-61 days past due, and 61-91 days past due. When you create your Collections reports or view your customer accounts, you can specify an aging bucket and 'as of date', and Receivables will group the transactions and their amounts in the appropriate days past due period.
You can define an unlimited number of aging buckets. You can also customize the aging buckets that Receivables provides. Aging buckets that you define here appear as list of values choices in the Aging, Print Statements, and the Print Collection Reports windows.
You can make an aging bucket inactive by changing its status to 'Inactive' and then saving your work.
To define a new aging bucket:
1. Navigate to the Aging Buckets window.
2. Enter a Name for this aging bucket.
3. Choose the Type of aging bucket you are defining. You can choose from the following types:
4-Bucket Aging: Use this type to define an aging bucket with four periods. Receivables displays this aging bucket in the list of values when you print the 'Aging - 4 Buckets' report.
7-Bucket Aging: Use this type to define an aging bucket with seven periods. You can print 7-Bucket Aging reports that sort by either amount or salesperson. Receivables displays this aging bucket in the list of values when you print the 'Aged Trial Balance - 7 Buckets By Amounts' or 'Aging - 7 Buckets By Salesperson' report.
Credit Snapshot: Receivables displays this aging bucket in the list of values of the Print Collections Report window when you print the Customer Credit Snapshot report.
Statement Aging: Use this type to define an aging bucket with five periods. This aging bucket appears on your statements. You can define as many statement aging buckets as you need. Receivables displays your active statement aging buckets as list of values choices in the Print Statements window.
4. Enter a Sequence Number to reflect the order in which Receivables prints your aging bucket period. The default is the sequence in which you define each period (for example, the first period you define is '1', the second '2' and so on).
5. Enter the Type of aging bucket line you are defining. Choose from the following types:
Current: Display transactions that are not yet due.
Past Due: Display transactions whose number of days past due falls into the range you specify for this line. For example, if Days From is 10 and Days To is 15 for this line, Receivables displays transactions that are between 10 and 15 days past due in this line.
Dispute Only: Display transactions that are in dispute with your customer. You can only have one line of this type per aging bucket. If you do not specify a line of this type, Receivables prints disputed debit items in the appropriate aging periods. You do not specify a Days From and Days To past due range for this type.
Pending Adjustment Only: Display transactions that have pending adjustments. You can only have one line of this type per aging bucket. If you do not specify a line of this type, Receivables prints your transactions that have pending adjustments in the appropriate aging periods. You do not specify a Days From and Days To past due range for this type.
Dispute and Pending Adjustments: Display transactions that are in dispute and transactions that have pending adjustments in this line. You can only have one line of this type per aging bucket. You do not specify a Days From and Days To past due range for this type.
Future: Display transactions that will be due in the future. For example, if the current date is April 5 and the due date range for this line is Days From: -10 and Days To: -5, items whose due date is between April 10 and April 15 will appear in this line.
Attention: You can only enter one Dispute or Pending adjustment line per aging bucket. For example, if you define a line type of Dispute Only, you cannot define a Pending Adjustment Only or Dispute and Pending Adjustments line within this aging bucket.
6. If this line type is Current, Past Due, or Future, enter the starting day number in the Days From field. For example, if this is the first line (sequence 1) and you want to display transactions that are 1 to 30 days past due, enter '1.'
7. If this line type is Current, Past Due, or Future, enter the ending day number in the Days To field. For example, if this is the first line (sequence 1) and you want to display transactions that are 1 to 30 days past due, enter '30.'
8. Enter the column headings to appear in your report above the bucket you are defining. You can enter a maximum of fifteen characters for your column heading.
For example, you define an aging bucket line for transactions from 1 to 30 days past due. If you enter '1 to 30 Days' in the First Column Headings field and 'Past Due' in the Second Column Headings field, your report heading will print like this:
See Also
Collections
Viewing Account Balances by Aging Bucket
Printing a Collection Report
Accounts Receivable Aging Reports
Receivables 4 and 7 Bucket Aging Reports
