Aged Payables Report
The Aged Payables Report prints a list of all open invoices and credit memos. Amounts due are aged by comparing the item date due to the period cut-off date, and then categorized by number of days past due: 30, 60, 90, or more than 90 days past due. The Aged Payables Report may be run for a prior period by specifying the desired end-date and entering Yes at the Include paid invoices prompt.
The 'after-the-fact' Aged Payables Report shows items even when paid in a period prior to being invoiced. If the check date is earlier than the period-cutoff for the report but the transaction date of the invoice is later, then the item will appear (with the check number) on the report as a negative amount, facilitating balancing the A/P with the G/L.
This report also shows the percent of balance due for each non-retention column: 1-30, 31-60, 61-90, and more than 90 days overdue. If one or more G/L division codes are selected, and if the invoice is distributed to divisions other than those included in the total and the Show G/L divisional portion of open balance only check box is selected, an asterisk will display on the report.
All formats of the Aged Payables Report portray all pay-when-paid invoices as ‘Current.’ The report displays an asterisk(*) indicating that the item uses pay-when-paid terms and not the payment due date.
If you are in the process of selecting invoices for payment, the ‘after the fact’ and Include paid invoices version of this report could be change each time you run it. Consequently, it is best to run the Include paid invoices version when there are no payment processing transactions occurring.