Versions Compared

Old Version 105

changes.mady.by.user Former user

Saved on

compared with

New Version 106

changes.mady.by.user Former user

Saved on

Key

  • This line was added.
  • This line was removed.
  • Formatting was changed.

Overview


Excerpt

The aging section allows you to quickly view the aging for all customer invoices. Statements for a selected set of customers or all customers can also be created and sent.


Warning
titleImportant

Keep in mind that the Aging/Statements screen won't display any result until you click on the Search button.

Image Modified


Info
titleUser Permissions Needed

Access to this screen is limited to "Administrator" and "Accounting" roles.

Options


Ui expand
titleStatements for Specific Customers


Ui steps
sizesmall


Ui step

Click on the "Accounts Receivables" tab, then click on the "Aging / Statements" sub-tab. This will bring up the "Aging" report which lists customers with open balances and open credits.


Ui step

 Go to the Actions column and click on "Create / Send Statement".


Ui step

A pop-up window will appear. Choose the statement "End Date", click on the "Create" button and check the box to determine if the statement will be delivered via Email or Fax. The system will also ask for selecting the type of Statement that should be generated. There are two options:

    • Transactional: This option will show the invoices that were open by the "As of" date selected, regardless if they were paid or not after that date.
    • Open Items: This option will only show invoices that are still open as of today.
    • Balance Forward: This option will show all the transactions made through a period of time (max. 6 months). The invoices will be listed even if they were paid after the end date.


    Important

    Keep mind in that the statement type selected is only taken into consideration within the list of invoices of the statement, but not in the header.



Ui step

 The system will create a PDF file of the statement for the selected customer and will send it via email to the address specified in the ":" field within the customer account or to the fax number.



Ui expand
titleStatements for All Customers

In order to send statements via email to customers, the accounts must have an email address specified in the "Send Invoices To" field within the customer's account.

Info

To learn how to manage customer's account information please go to the "Customers" setup under the "Setup", and use the following article as a guide: Adding customers.


Ui steps
sizesmall


Ui step

Click on the "Accounts Receivables" tab, then click on the "Aging / Statements"  sub-tab. This will bring up the "Aging" report which lists all customers with their current open balances and open credits.


Ui step

Select all customers by clicking the check box on the grid. 


Ui step

 Click on the "Send" button above the grid, select the "End Date" and click on "Send". The system will create a PDF file of the statements for the customers that were selected and will fax or email them to your customers. 


Image Modified


Info

The information on the statements is based on the transaction date and not on the date when the transaction was entered into the system.

When the user runs an on-screen aging report for a past "As Of" date, the aging information shown will reflect the reality of the customer's account based on all transactions that were entered with a transaction date less than or equal to the "As Of" date specified in the search. This applies to all transactions that affect the customer's balance such as invoices, credits, payments, open credits, discounts, etc.


Warning

You cannot generate past statements for any customer if they don't currently have an open balance for that period.




Ui expand
titleCustom Columns on Aging and Statements Screen

The system allows users to choose the columns that should be displayed on the Aging and Statements screen. Click on the gear icon and check/uncheck the desired columns.

Image Modified


Ui expand
titleExport to Excel

The system allows you export to excel an aging summary of account receivables for your customer. To do so, click on Reports>>Export to Excel option in the Aging/Statements tab.

Image Modified

Once you click on that button, the system will download an Excel report as follows:


Image Modified


Ui expand
titleAging Report

The system allows generating an Aging Details Report according to the filters selected. To do so, follow the next steps:

Ui steps
sizesmall


Ui step

Go to A/R>>Aging/Statements.


Ui step

 Use the availability filters and click on Search. Remember to select the As Of, meaning that the system will not take into account payments generated after that date.


Ui step

This report can be generated in Excel or PDF. In any case, the system will ask users to enter the email where the report should be sent. Notice that the system also gives you the option to exclude one or several customers from the report. 

Image Modified


  • Aging Details Report in Excel: This report will be sent in .xlsx format. The system will include the Grand Total at the end of the report, including the sum of all the customers aging for each month and the percentage of the Total Balance that corresponds to each period. Download here an example of this report.

  • Aging Details Report in PDF: This report will be sent in a PDF file and will contain information such as Total Amount Due, Credit Limit, and Total Aging Percentage for each month. The system will also include the Grand Total at the end of the report, including the sum of all the customers aging for each month. Download here an example of the Aging Report in PDF.

Info
titleInvoices Reopened

Invoices reopened due to NSF will be indentified as RO-NSF, next to the invoice number.



Ui expand
titleOpen Credits on Aging and Statements


Info
titleInformation

Open credits are considered in the Aging and Statements screen. If the Credits are Approved, they will affect the aging, while credits pending to be reviewed, submit for review, reopened, rejected, will not be considered in the aging model.


How to Include/Exclude Open Credits on Statements

When customers have open credits the following must be considered:

  • If the customer doesn't have open invoices but has available credits it will still appear on the Aging and Statements tab. 
  • Customers with available credits but no open invoices will be included on the Aging Reports.
  • Open credits are included on the customer statement by default. However, this option is manageable if you wish to exclude these from being printed on the customer statements.You can do so by going to Setup > Settings and under  "Accounts Receivables" menu click on "Statement OptionsAging & Statements". Check the option and click on Save.

Image RemovedImage Added

Here is how the Statement should look like when the credits are included. Download it here.

How to Include/Exclude Open Credits from Aging Summary

When this option is enabled, the open credits associated to the customer (overpayments and customer credits) will be subtracted from the Aging Report (both PDF and Excel) and Statements. The open credits will be subtracted from the total of the period in which they were approved (customer credits), paid (overpayments) or uploaded into Komet (credit transfers).

Leaving this option deactivated, the system won't subtract the open credits from the total amount due for the selected period.

Image RemovedImage Added

Once enabled, the Open Credits will be taken into account in the aging summary for each period and of course, in the total amount:

 

Info
titleInvoices Reopened

Invoices reopened due to NSF will be identified as Reopened-NSF on the PO# column.


On the Aging Report, the open credits will also be visible by period:



Panel
titleRelated Articles

Filter by label (Content by label)
showLabelsfalse
max10
showSpacefalse
sorttitle
cqllabel in ("statements","accounts-receivables","aging")
labelsaging, statements, accounts-receivables


Info
titleInformation

The Statements will include overpayments applied to specific orders, in the Statements type "Open Items" the order overpayment  must be still pending to apply up to the current date to be displayed and in the Stamente type Transational, the overpayment  should be still pending to be applied by the selected date.


Ui text box
sizemedium

(lightbulb)Roles enabled to perform this action: Accounts Receivables,  Admin.