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When MYOB AccountEdge performs aging on a monthly basis, it determines the month in which an invoice or purchase was recorded, and adds its value to that monthÃs column. For example, assume you have the following invoices:
Customer |
Date |
Amount |
Terms |
Due |
A-Z Stationery |
July 1, 1998 |
$123.45 |
21 days from Inv |
July 22, 1998 |
A-Z Stationery |
July 14, 1998 |
200.50 |
21 days from Inv |
August 4, 1998 |
Chelsea Mosset |
July 2, 1998 |
400.24 |
C.O.D. |
July 2, 1998 |
Footloose Dance Studio |
April 30, 1998 |
25.00 |
30 days from Inv |
May 30, 1998 |
Footloose Dance Studio |
May 12, 1998 |
112.30 |
30 days from Inv |
June 11, 1998 |
Footloose Dance Studio |
June 29, 1998 |
149.30 |
30 days from Inv |
July 29, 1998 |
Footloose Dance Studio |
June 30, 1998 |
20.35 |
30 days from Inv |
July 30, 1998 |
Footloose Dance Studio |
July 6, 1998 |
90.70 |
30 days from Inv |
August 5, 1998 |
Footloose Dance Studio |
July 21, 1998 |
85.12 |
30 days from Inv |
August 20, 1998 |
My Town Realty |
May 26, 1998 |
210.45 |
7 days from EOM |
June 7, 1998 |
My Town Realty |
June 10, 1998 |
142.40 |
7 days from EOM |
July 7, 1998 |
Assume you chose to age on a monthly basis and selected to identify your aging periods by month names. If you age these invoices by invoice date using any date in July 1998, the invoices will be aged in the following fashion.
Total |
July |
June |
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 |
Aging Percent |
57.7% |
20.0% |
20.7% |
1.6% |
In the example above, each aging period represents the month in which the invoice came due.
Now assume you chose to identify your aging periods by month numbers. The results above would be the same, 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 |
Aging Percent |
57.7% |
20.0% |
20.7% |
1.6% |
In this example, each aging 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; however, your report or MYOB AccountEdge window would show the month in which the invoice falls due.
Total |
Current |
July |
June |
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 |
Aging 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 |
Aging Percent |
24.1% |
53.6% |
20.7% |
1.6% |
Examples of Monthly Aging