Hi All,
On account receipts against Accounts Receivables always poses a challenge in case the application system does not have the functionality to adjust the on account receipts against open debtor invoices. (First in First Out Allocation)
In such cases you can perform an Aging (Create Result) in IDEA which will age the open invoices (positive values) separately and on account receipts (negative values) separately.
The Aging result generated on the Accounts Receivable ledger in IDEA will show the following -
- Age Bucket (Not Due, 0-30, 31-60...)
- Count and value of Debits per bucket (Open Invoices)
- Count and value of Credits per bucket (On Account Receipts)
The result can also be expressed graphically at the click of the toggle button in the Aging Result toolbar.
Now even if you are unable to appropriate the on account monies received to open customer invoices, the Aging result gives you tremendous insight into total open invoices and corresponding on account receipts bucket wise. This augurs well in preparing a net Accounts Receivable picture for the Company as a whole.
This can also be drawn up in Key Value Aging where you can prepare two statements in IDEA -
- Customer wise Open Invoices bucket wise
- Customer wise On Account receipts bucket wise
Then join the two statements and arrive at the net position customer wise.
Kind Regards
Jairam