How To Utilize Your Receivables And Payables Reports
What you need to know:
Receivables and payables reports help you monitor money owed to your business and amounts your business owes to suppliers. These reports can be used to review outstanding balances, analyze aged receivables and payables, reconcile charges, and verify customer and supplier activity as of a specific date.
What you need to do:
Determine if you want to run the receivables or payables report.
Gather the report date, contact selection, and preferred sorting or aging options.
How to (Step by Step):
Payables and Receivables each offer three report types. Although the categories differ, the options available for each report type remain the same.
For Accounts payable/receivable:
This report shows all charges and payments for one or more Contacts in the time period selected.
Click Reports .
Select Accounts payable or Accounts receivable.
Use the drop-down filters on the View options slide-out to customize your report:
Choose the number of contacts to show Per page: 50, 250 or All.
Choose the Sort by method by clicking the Arrow button: Ascending or Descending.
Select the As at date.
Select one or more Contacts.
Note: The default choice shows all contacts when the report is generated.
Click the box if you wish to show Only outstanding invoices.
Select View report to generate the report.
For Accounts payable/receivable - aged:
This report shows the totals of all outstanding balances and breaks them down based on time overdue: 0-30 days, 31-60 days, 61-90 days, or over 90 days.
Click Reports.
Select Accounts payable – aged or Accounts receivable - aged.
Use the drop-down filters on the View options slide-out to customize your report:
Choose the Sort by method: Supplier, Total, or days outstanding.
Note: You can sort the list ascending or descending with the Arrow icon
Select the As at date.
Select one of more Contacts.
Note: The default choice shows all contacts when the report is generated.
Click the box if you wish to show Only outstanding invoices.
Select View report to generate the report.
For Accounts payable/receivable - charge reconciliation:
This report shows all charge invoices for one or more Contacts and if any payments were applied to those invoices. You can see any outstanding amounts on an invoice level and can drill down into the transaction where payment was applied to that invoice.
Click Reports.
Select Accounts payable - charge reconciliation or Accounts receivable - charge reconciliation.
Use the drop-down filters on the View options slide-out to customize your report:
Choose the number of contacts to show Per page: 50, 250 or All.
Select the Report view method: Include contacts with zero balance or Outstanding contact balances.
Choose the Sort by method by clicking the Arrow button: Ascending or Descending.
Select the As at date.
Select one or more Contacts.
Note: The default choice shows all contacts when the report is generated.
Click the box if you wish to show Only outstanding invoices.
Select View report to generate the report.
Note: You can re-run a report at any time by changing the View options and clicking View report again.
Still have questions? Contact support
Contact us at 1-800-667-7893 or email support@fccagexpert.ca if you require additional support. You can find other help options under the question mark Icon in the top right of AgExpert Accounting at any time.