Share this content

Aged creditor report method!

Difference between aged by due date and by document date

Didn't find your answer?

What is the difference between an aged creditor report aged by due date and aged by document document date?

If an invoice is aged by due date and is payable 30 days from date of issue and today is day 24 does this mean the invoice would be current or in bucket 1-30

Ageing buckets are:

Current 1-30, 31-60, 61-90, 90+

Does 1-30 mean 1 to 30 days past the due date? or 1-30 days old from date of issue?

Thanks in advance

Replies (5)

Please login or register to join the discussion.

By JoF
19th Sep 2019 08:47

Why not try running both reports and seeing what you get - best way to learn.

Thanks (2)
By paul.benny
19th Sep 2019 08:57

Suppose you trade on 60 day terms. On 15 Feb, an invoice issued 1 Jan is 45 days old but is still current (ie not yet due for payment).

If you always trade with every customer on the same payment terms, it is just a case of being clear whether your report is based on invoice date or due date. If different customers have different payment terms, managing receivables becomes difficult unless your report is based on due date.

Thanks (0)
19th Sep 2019 12:28

Can you really not work this out yourself?

Thanks (0)
Replying to JDBENJAMIN:
By paul.benny
20th Sep 2019 09:05

Apparently not.
The OP can't even manage to return to acknowledge the responses.

Thanks (0)
By [email protected]
19th Sep 2019 16:04

Depends on how the report(s) have been written

Best run some examples and see what comes out compared with what you expect for that report criteria

Thanks (0)
Share this content

Related posts