When a Direct Bill payment is made to a folio, the amount is automatically added to the AR Account of the company. AR Accounts are used for keeping track of payments made by Companies to Individual, Group or House Account Folios. See lAR Accounts
A Company will only appear on this report if they have an open balance. If a company is not on this report, then they have paid their AR Account and have a zero balance. To see AR Payments made, go to Transactions Report
The report lists each Company with an open balance with a summary of the credit limit, amount owed, amount owed and the running total. The aging periods displayed are standard accounts receivable aging periods: Current, 30 days, 60 days, 90 days and 120 days +.
To see details of individual statements and folio charges, see AR Statements
Since the report keeps a running total of outstanding balances, the amounts will "drop off" the report when a payment is received and the balance is zero in AR Accounts. See AR Payments
For this reason, there no option to choose a date. The report displays open balances as of the system date.
The credit limit controls how much can be billed to a company when making a Direct Bill payment to a guest folio. If the credit limit for the company has been reached, then the system will not allow to make a Direct Bill payment in the folio. To allow the payment, you must increase the credit limit of the company. To increase the credit limit, go to Companies
To run an Accounts Receivable Aging Report :
- Go to REPORTS | ACCOUNTING | ACCOUNTS RECEIVABLE AGING REPORT
- Click on Accounts Receivable Aging Report
- Select Company Name: Choose a single company or "All" to see a report of all AR Accounts Receivable.
- Choose the report format: HTML, Excel or Text.
- Click Generate Report
The Accounts Receivable Aging Report displays the following information:
- Name: Name of Company
- Credit Limit: This amount is determined by you and entered in the Company information. It can be changed at any time in Companies.
- Amount Available: This amount reflects how much credit the company has available as determined by the credit limit set and the balances of the aging receivables. For example, credit limit=$10,000 and open folios= $7,600. The credit balance or amount available is $2,400.
- Amount Owed: This column is displays the open balances of the company or, how much the company owes you, by aging period, I.e. 30 Days.
- Running Total: Displays reflects the total amount owed or the running total of all aging receivables. This amount will decrease automatically as payments are received.
See an example of an Accounts Receivable Aging Report