When MYOB Accounting Plus performs ageing on a monthly basis, it determines the month in which an invoice or purchase was recorded, and adds its value to that month's column. For example, assume you have the following invoices:
Customer |
Date |
Amount |
Terms |
Due |
A-Z Stationery |
1 Jul 02 |
£123.45 |
21 days from Inv |
22 Jul 02 |
A-Z Stationery |
14 Jul 02 |
200.50 |
21 days from Inv |
4 Aug 02 |
Chelsea Mosset |
2 Jul 02 |
400.24 |
C.O.D. |
2 Jul 02 |
Footloose Dance Studio |
30 Apr 02 |
25.00 |
30 days from Inv |
30 May 02 |
Footloose Dance Studio |
12 May 02 |
112.30 |
30 days from Inv |
11 Jun 02 |
Footloose Dance Studio |
29 Jun 02 |
149.30 |
30 days from Inv |
29 Jul 02 |
Footloose Dance Studio |
30 Jun 02 |
20.35 |
30 days from Inv |
30 Jul 02 |
Footloose Dance Studio |
6 Jul 02 |
90.70 |
30 days from Inv |
5 Aug 5, 02 |
Footloose Dance Studio |
21 Jul 02 |
85.12 |
30 days from Inv |
20 Aug 02 |
My Town Realty |
26 May 02 |
210.45 |
7 days from EOM |
7 Jun 02 |
My Town Realty |
10 Jun 02 |
142.40 |
7 days from EOM |
7 Jul 02 |
Assume you chose to age on a monthly basis and selected to identify your ageing periods by month names. If you age these invoices by invoice date using any date in July 2000, the invoices will be aged in the following fashion.
Total |
Jul |
Jun |
May |
Pre-May | |
A-Z Stationery |
323.95 |
323.95 |
|||
Chelsea Mosset |
400.24 |
400.24 |
|||
Footloose Dance Studio |
482.77 |
175.82 |
169.65 |
112.30 |
25.00 |
My Town Realty |
352.85 |
142.40 |
210.45 |
||
Totals |
1,559.81 |
900.01 |
312.05 |
322.75 |
25.00 |
Ageing Percent |
57.7% |
20.0% |
20.7% |
1.6% |
In the example above, each ageing period represents the month in which the invoice came due.
Assume you chose to identify your ageing periods by month numbers. The results would be the same as in the previous example, but with different headings, as follows:
Total |
1 Month |
2 Month |
3 Months |
3+ Months | |
A-Z Stationery |
323.95 |
323.95 |
|||
Chelsea Mosset |
400.24 |
400.24 |
|||
Footloose Dance Studio |
482.77 |
175.82 |
169.65 |
112.30 |
25.00 |
My Town Realty |
352.85 |
142.40 |
210.45 |
||
Totals |
1,559.81 |
900.01 |
312.05 |
322.75 |
25.00 |
Ageing Percent |
57.7% |
20.0% |
20.7% |
1.6% |
In this example, each ageing period represents the number of months by which the invoices assigned to the period are overdue.
If you were to age the transactions based on their invoice terms, the results would be similar to those in the previous example. However, your report or Accounting Plus window would show the month in which the invoice falls due.
Total |
Current |
Jul |
Jun |
Pre-June | |
A-Z Stationery |
323.95 |
200.50 |
123.45 |
||
Chelsea Mosset |
400.24 |
400.24 |
|||
Footloose Dance Studio |
482.77 |
175.82 |
169.65 |
112.30 |
25.00 |
My Town Realty |
352.85 |
142.40 |
210.45 |
||
Totals |
1,559.81 |
376.32 |
835.74 |
322.75 |
25.00 |
Ageing Percent |
24.1% |
53.6% |
20.7% |
1.6% |
If you were to age the example transactions based on their invoice terms and using month numbers, the results would look like this:
Total |
Current |
1 Month |
2 Months |
2+ Months | |
A-Z Stationery |
323.95 |
200.50 |
123.45 |
||
Chelsea Mosset |
400.24 |
400.24 |
|||
Footloose Dance Studio |
482.77 |
175.82 |
169.65 |
112.30 |
25.00 |
My Town Realty |
352.85 |
142.40 |
210.45 |
||
Totals |
1,559.81 |
376.32 |
835.74 |
322.75 |
25.00 |
Ageing Percent |
24.1% |
53.6% |
20.7% |
1.6% |