Aged Payables Report
Posted: January 30th, 2012, 6:59 pmDifference in the “Aged Payables Report by Period” and the “Aged Payables Report by Date” when the aged date is within the period used in the first report
When you run the Aged Payables report the report includes information about only those transactions that meet the specified aging period or date. For example, if you run the report by Date “06/30/2006”, the report will not display or consider the impact of any transactions with transaction dates beyond 06/30/2006. If any transactions with dates beyond 06/30/2006 were posted into period 6/2006 or earlier (assuming a standard calendar based fiscal year), then those transactions would be reflected on a report by Period 06/2006.
In general, anytime a transaction's posting date is future to and “out of sync” with the posting period, there will be some point in time when the “by Date” and “by Period” reports will differ.
The following transactions are examples of the type of situation that causes the reports to differ.
Vendor with a zero balance shows on aged payables report
This is because two or more non-zero transactions are outstanding, but they haven't been applied to each other. Applying an “unapplied check amount” to an existing vendor invoice. Entering a manual check or credit memo but not applying it to the vendor invoice.
Go to Payables/Print/Vendor Activity to verify that the check or credit memo was not applied to the vendor's balance.
Use Payables/Manual Payments to apply an unapplied payment (check or credit memo) to an invoice.
1. Run Payables/Manual Payments, start a new batch, and set up the batch name and posting period you want.
2. Select the bank account of the original unapplied check.
3. Enter a bogus check number – one you will never use.
4. Enter the date of the original unapplied check.
5. Leave the check amount blank.
6. Select the vendor to whom the check was paid or the credit memo was entered.
7. At Invoice number, select the unapplied check payment or the credit memo. The unapplied check or credit memo appears in the invoice list with the check number or credit memo number and a negative amount. Tab to the next line.
8. At the next Invoice number field, select the invoice you want to apply the payment (check or credit memo) to. Be sure to press Tab to register your selection. The system automatically applies the unapplied payment amount to the invoice due amount.
9. Click OK, ignore “Warning: check amount is zero”, save and post the batch.
The vendor's amount due will now be reduced by the amount of the check or credit memo.
When you run the Aged Payables report the report includes information about only those transactions that meet the specified aging period or date. For example, if you run the report by Date “06/30/2006”, the report will not display or consider the impact of any transactions with transaction dates beyond 06/30/2006. If any transactions with dates beyond 06/30/2006 were posted into period 6/2006 or earlier (assuming a standard calendar based fiscal year), then those transactions would be reflected on a report by Period 06/2006.
In general, anytime a transaction's posting date is future to and “out of sync” with the posting period, there will be some point in time when the “by Date” and “by Period” reports will differ.
The following transactions are examples of the type of situation that causes the reports to differ.
- Invoice “Example 1” paid with check #23651, dated 4/30/2024, posted in period 10/2006. Because the year on the check date is so far in the future, that payment will not be reflected on any “by Date” reports with dates before 4/30/2024.
- Void of invoice “Example 2 is dated 7/13/2006, posted in period 12/2006. (Period 12/2006 ends 6/30/2006 for their fiscal calendar.) So, a report for Period 12/2006 will not match a report for Date 06/30/2006.
Vendor with a zero balance shows on aged payables report
This is because two or more non-zero transactions are outstanding, but they haven't been applied to each other. Applying an “unapplied check amount” to an existing vendor invoice. Entering a manual check or credit memo but not applying it to the vendor invoice.
Go to Payables/Print/Vendor Activity to verify that the check or credit memo was not applied to the vendor's balance.
Use Payables/Manual Payments to apply an unapplied payment (check or credit memo) to an invoice.
1. Run Payables/Manual Payments, start a new batch, and set up the batch name and posting period you want.
2. Select the bank account of the original unapplied check.
3. Enter a bogus check number – one you will never use.
4. Enter the date of the original unapplied check.
5. Leave the check amount blank.
6. Select the vendor to whom the check was paid or the credit memo was entered.
7. At Invoice number, select the unapplied check payment or the credit memo. The unapplied check or credit memo appears in the invoice list with the check number or credit memo number and a negative amount. Tab to the next line.
8. At the next Invoice number field, select the invoice you want to apply the payment (check or credit memo) to. Be sure to press Tab to register your selection. The system automatically applies the unapplied payment amount to the invoice due amount.
9. Click OK, ignore “Warning: check amount is zero”, save and post the batch.
The vendor's amount due will now be reduced by the amount of the check or credit memo.