Note: The Aged Creditors/ Suppliers listing report must be prepared first. This report details the balances owing to suppliers as of the user-determined date - this can be a historical or future date.

Navigate to Reports> Aged Creditors / Suppliers Listing Report

Date

Enter the desired report date that you require the Supplier balances processed to. All transactions up to and including this date will be included in the report balance.

Prepare

Click Prepare to generate the Supplier Listing and the closing balances for each Supplier as of that date.

Contact Name

The contact’s name entered at the Add/Amend Supplier screen will display on the report and is useful for any follow-up required such as queries on Supplier statements received, missing invoices, payments omitted from statements, copy invoices etc. 

Telephone Number

The telephone number on the Add/Amend Supplier screen will display on the report and is useful for any follow-up required as with the Supplier contact name above.

Balance

The total balance owed by the Customer as at the entered balance date is displayed in the balance column by Customer.

Ageing

The total balance is aged across the 3 months plus older before the user entered the report date.  This indicates to the age of the debt owed by the business and will aid determining payments to suppliers so that full credit available from Suppliers is utilised.

Transaction History

To view the history of transactions making up each individual Supplier balance simply double click on the Supplier name to view the transactions up to the balance date for that Supplier.

Note: It is advisable to reconcile the balance per the aged supplier report to supplier statements received on a monthly basis in order to reconcile balances and identify missing invoices, misappropriated payments made to the supplier etc.

Additionally, this report ages the debt owed to the supplier by the business and will aid in determining payments to suppliers so that full credit available from suppliers is utilised. When making payment to the supplier an optional remittance advice can be printed for inclusion with any payment made to the supplier. 

Remittance Advice

To include remittance advice along with the Supplier payment simply click the box Remittance Advice. A separate page detailing the remittance details will be printed for each Supplier. 

The Remittance Advice indicates the following:

• Supplier Name and Address
• Businesses' own Name and Address
• Closing Balance Due
• Comment for completion should any further detail be required for amendments to the balance being paid.