We will not be accepting edits to this topic, because it is generated from a business process in Lifecycle Services.
This guide will help you set up an aging period definition, age customer balances, and view balances in the Aged balance list and the Collections page. This recording uses the USMF demo company.
Create an aging period definition
- Go to Credit and collections > Setup > Aging period definitions.
- Click New.
- In the Aging period definition field, type a value.
- In the Description field, type a value.
- Click Add below to insert a new aging period.
- In the Period field, enter the description to show on aging reports.
- In the Unit field, enter a number.
- In the Interval field, select an option.
- Ledger period matches the period to your ledger calendar. Day, week, month, quarter and years define the size of the interval by date type. Unlimited selects all transactions before or after the previous period, depending on whether it is the first or last period.
- In the Aging indicator field, select an option.
- Select the period at the top of the grid. Update the description to describe the oldest period in the aging period definition
- In the Period field, enter the new description of the aging period.
- Close the page.
Age the balances
- Go to Credit and collections > Periodic tasks > Age customer balances.
- In the Aging period definition field, select the aging period definition that you created.
- You can have one active snapshot for each aging period definition.
- All customers are processed by default. You can use this selection to calculate a single collections pool of customers.
- Select the date from the transaction that you will use for the aging.
- Select an "as of" date for aging. The default is today but, if you change this field to Selected date, you will be able to pick the date that you want. For batch processing, use Today's date.
- Expand the Company range. You can select the companies that will be included in the snapshot. The current company is selected by default.
- Click Ok to process the snapshot. It will take some time so wait for the slider to disappear and check the message center for a message.
View the balances on the Aged balances list and on the Collection page
- Go to Credit and collections > Collections > Aged balances.
- The list page shows the balances for the customer. The aging icon shows the aging period for the oldest transaction.
- Select a customer with a balance.
- Expand the Aging fact box area to view the aged balances.
- The aging period definition for the fact box is taken from the default aging period definition specified in the parameters. You can change it using the Collect menu.