Setting Up Aging

To set up aging, use the Aging component (AGING_TABLE).

This section provides an overview of aging setup and discusses how to set up aging IDs.

Page Used to Define Aging IDs

Page Name	Definition Name	Navigation	Usage
Aging	AGING_TABLE	select Set Up Financials/Supply Chain, then select Product Related, then select Receivables, then select Credit/Collections, then select Aging, then select Aging	Define aging IDs that describe how the system ages open items.

Understanding Aging Setup

Aging IDs define how the Aging process and aging reports age open items. They also enable you to define unique rules for aging deduction, disputed, and collection items.

When you age deduction, disputed, and collection items, you choose to do one of the following:

Age them like normal open items and place them in a category based on the age of the item.
Define a separate category for either all disputed, deduction, or collection items, regardless of their age, or create a separate category for each type of item.

This categorization is useful when you do not want these item types aged in a date range, but you want to see the total aged amount for these types of items separately.

You can also set up separate categories based on the dispute or deduction reason, or the collection code.
Exclude deduction, dispute, or collection items from aging.

You have two options:
- Exclude all deduction, disputed, or collection items aged using the aging ID or any combination of these item types.
  
  For example, you can exclude deduction and disputed items, but age collection items normally.
- Exclude deduction and disputed items by their reason or collection items by their collection codes.
  
  For example, you can exclude authorized deductions that are associated with a product discount, but age the remaining deductions normally or in a deduction category.

The Aging process uses the aging ID assigned to the business unit to age items unless you override it for individual customers. The aging reports use the aging ID that you enter on the run control page to age the items on the reports.

Setting Up Aging IDs

Use the Aging page (AGING_TABLE) to define aging IDs that describe how the system ages open items.

Navigation

select Set Up Financials/Supply Chain, then select Product Related, then select Receivables, then select Credit/Collections, then select Aging, then select Aging

Image: Aging page

This example illustrates the fields and controls on the Aging page. You can find definitions for the fields and controls later on this page.

Basis Date

Select the type of date for aging open items. Values are:

As of Date: A user-defined date for aging items.

Acctg Date (accounting date): The accounting date for the item.

Item Date: Usually the invoice date, but it may differ by implementation.

Due Date: The due date assigned to the item.

Categories

Aging Category and Description

Enter an ID for the category and the description that you use to identify the categories on the reports and inquiry pages.

Start and End

Enter the number of days that define the beginning and ending of the category. Use –9999 as the start day for one category and 9999 as the end day for one category.

The start date for each category must always be one day greater than the last end day for the previous category with one exception. If you are defining a separate category for disputed, deduction, or collection items, the start and end days is always 9999.

Sum (summarization)

Select a value that links the aging category to one of these summarization categories: Current Due, Past Due, Future Due, or Other.

Credit Check

Select if the aging category should be considered in the credit checking performed by PeopleSoft Order Management.

When you run the aging reports or view aging information on inquiry pages, the system uses the aging categories that you define to determine in which bucket to place an item. Each category represents an age range for the items. For example, suppose that you run an aging report using the 30–60 aging ID, as shown in the Aging page. You use an as of date of March 1. If you created an item on January 15, the system puts the item in the 31–60 category, which indicates the item is between 31 and 60 days old. If you defined unique categories for deduction, disputed, or collection items, the system places items flagged as deductions, in dispute, or in collection in the appropriate category.

Dispute, Deduction, Collection, and Doubtful Aging

Dispute Aging, Deduction Aging, Collection Aging, and Doubtful Aging

Specify how the system ages disputed, deduction, collection, and doubtful items. Values are:

Categorize: Select if you have created a unique category for disputed, deduction, collection, and doubtful items and enter the category ID in the Category field. You can use the same category ID for all types of items or create a unique category for the different types of items.

Exclude: Select if you do not want to age all disputed, deduction, collection, or doubtful items.

Normal: Select to age disputed, deduction, collection, or doubtful items normally by the basis date.

Vary: Select to do the following:

Age disputed items based on the aging method for their dispute reason on the Dispute Reason page.
Age deduction items based on the aging method for their deduction reason on the Deduction Reason page.
Age collection items based on the aging method for their collection code on the Collection Code page.

The aging methods for individual dispute reasons, deduction reasons, and collections codes are to age normally, use a specific category, or be excluded from aging.

Priority

Enter a number to indicate which rule to use for an item that is marked with more than one dispute, deduction, collection, or doubtful flag. An item can be aged based on only one of the reason codes. For example, if an item is a disputed item and in collection, the priority number indicates whether the system should use the disputed aging rule or the collection aging rule.

Note: Use the Entry Type page to place all items for an entry type in a specific aging category.