Customer Aged Balance Defaults

Use the Ageing tab from the Customer Defaults window to set the defaults for your customers' aged balance reports.

Seeing a customer's outstanding balances grouped by the age of debt is a useful way of keeping track of the payment performance of a customer and can act as a useful reminder for you to send debt chasing letters to them.

There are three ways of ageing:

Calendar Monthly Ageing

Period Ageing

Start Period Ageing on the first day of the month after Transaction Date

Calendar Monthly Ageing

Use this option to age transactions on a calendar basis, rather than by the number of days the transaction is outstanding. This means that all of a month's transactions will be classed as outstanding on the first day of the following month.

For example:

A customer invoice is entered with a transaction date of 15th January 2002.

The following table shows the ageing period in which the transaction is found if the Aged option is run for a selection of dates.

Date Aged Option Ran Period	Transaction Shown In
Prior to 14 January 2002 (inclusive)	Future
15 January 2002 to 31 January 2002	Current
1 February 2002 to 28 February 2002	Period 1
1 March 2002 to 31 March 2002	Period 2
1 April 2002 to 31 April 2002	Period 3
1 May 2002 onwards	Period 4

Period Ageing

Use this option to age transactions according to a certain number of days per accounting period. The default periods are 30, 60, 90 and 120 days but you can set any number of days you require.

For example:

Ageing Period 30/60/90/120 days.

A customer invoice is entered with a transaction date of 15th January 2002.

The following table shows the ageing period in which the transaction is found if the Aged option is run for a selection of dates.

Date Aged Option Ran Period	Transaction Shown In
Prior to 14 January 2002 (inclusive)	Future
15 January 2002 to 12 February 2002	Current
13 February 2002 to 12 March 2002	Period 1
14 March 2002 to 12 April 2002	Period 2
13 April 2002 to 11 May 2002	Period 3
12 May 2002 onwards	Period 4

Start Period Ageing on the first day of the month after Transaction Date

Use this option to select to start ageing transaction from the first day of the month following the transaction date.

For example:

Ageing Period 30/60/90/120 days.

Start Period Ageing on first day of month after Transaction Date check box selected

A customer invoice is entered with a transaction date of 15th January 2002.

The following table shows the ageing period in which the transaction is found if the Aged option is run for a selection of dates.

Date Aged Option Ran Period	Transaction Shown In
Prior to 14 January 2002 (inclusive)	Future
15 January 2002 to 1 March 2002	Current
2 March 2002 to 31 March 2002	Period 1
1 April 2002 to 29 April 2002	Period 2
30 April 2002 to 28 May 2002	Period 3
29 May 2002 onwards	Period 4