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.
Keep in mind that the Aging/Statements screen won't display any result until you click on the Search button.
User Permissions Needed
Access to this screen is limited to "Administrator" and "Accounting" roles.
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.
Go to the Actions column and click on "Create / Send Statement".
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.
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.
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.
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.
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 customers that were selected and will 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.
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.
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.
Once you click on that button, the system will download an Excel report as follows:
The system allows generating 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 that the system will not take into account 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 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.
Invoices reopened due to NSF will be indentified as RO-NSF, next to the invoice number.
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 "Aging & Statements". Check the option and click on Save.
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.
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:
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.
Roles enabled to perform this action: Accounts Receivables, Admin.