The aging section lets you quickly view the aging for all customer invoices. Statements for a selected set of customers or all customers can also be created and sent.
Roles enabled to perform this action: Accounts Receivables, Admin.
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.
Table of Contents
Statement Types
Important
The new, [New], statements have been designed as a replacement to the current, [Deprecated], statements to ensure complete alignment in the system’s screens and with readability in mind.
Deprecated statement types will no longer be available by the 1st of July, 2023.
These are the types of statements you can generate in Komet Sales:
[New] Balance Forward. Begins with the prior month's closing account balance; this format chronologically adds all transactions during the selected month up to the Statement End Date. Recommended for all companies as their normal month-end statement.
[New] Open Items/Unpaid. Includes only invoices with a balance as of the selected Statement Date. Useful to show a customer what Invoices were unpaid as of a selected date.
[New] Open Items/All Transactions. Includes all invoices with a balance before the selected Statement Date. A different way to show customers their account activity during the selected month related to unpaid invoices at the beginning of the selected month.
[Deprecated]Transactional: This option will show the invoices open by the "As of" date selected, regardless of whether they were paid after that date.
[Deprecated]Open Items: This option only shows invoices still open today.
[Deprecated]Balance Forward: This option will show all the transactions made over a period of time (max. 6 months). The invoices will be listed even if they were paid after the end date.
Info: Keep in mind that the statement type selected is only considered within the list of invoices of the statement but not in the header.
Create and Send Statements
You can create and send PDF statements to your customers from the Aging / Statements screen in Komet Sales. This screen displays every customer, their open balances, and open credits.
To create, download, and send statements, do the following instructions:
Go to A/R and select Aging / Statements.
Search the customer for the statements.
Go to the Actions column and click Create / Send Statement.
Select the statement type.
Select the end date.
Optional: Add an email or fax where the system will send the statements.
Click Create.
The system will create a PDF file of the statement for the selected customer that you can download, and it will also send it via email to the specified address in the Send Statements To field within the customer account or to the fax number.
Can’t see statements?
Keep in mind that the Aging/Statements screen won't display any results until you click on the Search button.
Statements for All Customers
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.
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.
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.
Select all customers by clicking the check box on the grid.
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 selected customers and fax or email them to your customers.
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.
You cannot generate past statements for any customer if they don't currently have an open balance for that period.
Custom 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.
Export to Excel
The system allows you to 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.
Once you click on that button, the system will download an Excel report.
Aging Report
You can generate an Aging Details Report according to the filters selected. To do so, follow the next steps:
Go to A/R>>Aging/Statements.
Use the availability filters and click on Search. Remember to select the As Of, meaning the system will not consider payments generated after that date.
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.
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 containing 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.
Invoices reopened due to NSF will be indentified as RO-NSF, next to the invoice number.
Open Credits on Aging and Statements
Open credits are considered in the Aging and Statements screen. If the Credits are Approved, they will affect the aging, while credits pending being reviewed, submitted for review, reopened, or rejected will not be considered in the aging model.
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 "Aging & Statements". Check the option and click on Save.
Here is how the Statement should look when the credits are included. Download it here.
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.
Once enabled, the Open Credits will be taken into account in the aging summary for each period and of course, in the total amount:
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: IM.B
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