Defining Receivables and Payables Aging
For the purpose of analyzing company receivables and payables, SOFICloud provides an Aging Analysis Report. The system can divide the receivables and payables categories of a company into age or term categories from the date the document is created until the present. You can choose the report display method based on the age after its due date or the age since the invoice was issued.
Setup
In this aging setup menu, we are given the freedom to arrange the report display based on the age range required by the company. Generally, companies usually determine the ranges as 0-15 days, 16-30 days, 31-45 days, 46-60 days, and 60 days and above. If you need a different time range, make changes in the following aging setup menu. See Figure 2.7.
