Debtor Aging Report lets you track payments that are overdue or yet to be collected from your debtors. It is especially convenient when you need to check from a previous date. To use this, simply follow the steps below:
What is the function of the Debtor Aging Report?
Debtor Aging Report is for you to view how long have your debtor owe you money and how much they
1.Go to Accounting > Debtor Aging Report from the main menu.
2.Select a date that you wish to view overdue payments from debtors.
3.Some tips for reading the report
Current: payments that are due for less than 1 day from invoice due date
1-30: payments that are due for 1 to 30 days from invoice due date
31-60: payments that are due for 31 to 60 days from invoice due date
61-90: payments that are due for 61 to 90 days from invoice due date
91-120: payments that are due for 91 to 120 days from invoice due date
121-150: payments that are due for 121 to 150 days from invoice due date
151-180: payments that are due for 151 to 180 days from invoice due date
180+: payments that are due for more than 180 days from invoice due date
4.Click on the name to see the breakdown of invoices.
The reasons If there is negative amount shown in the table:
You have over collected debt from your debtor. You collected more than the amount your debtor owes to you. For example, you issue an invoice to Debtor A for an amount of RM1,000, and you receive RM1,500 from her/him. The RM500 will be shown as a negative amount in the aging report.
Your debtor returns goods to you after you collected payment from them. For example, you have collected RM1,500 from Debtor A for the goods, however, they return goods after that. You will have to create a credit note to debtor A in the system.
Opening balance error. You should have a key in the appropriate debtor opening amount once you start using Biztory. For example, if the invoice is created before the opening balance date but the payment created after the opening balance date. System will detect as there is an cash inflow but no sales created, there is no tally between the cash inflow and the debtor amount, meaning to say this is over collected.