Aged Receivable Report Format

1

Hi all,

Our staff just flagged out some changes to the Aged Receivables Report.

It now reflects the Credits on the Less: Credit column for some customers. In the past, the Aged Receivables do not include these Credits in the Aged Receivables Report.

These Credits appeared in the Aged Receivables Report because these Customers have some deposits came with our company. Hence, these customers are owed some security deposits (Current Liabilities) from us.

Any advice on how to remove these Credits from the Aged Receivables Report?

Thank you and regards.

Bryan Tay

2

I think this change happened back in June 2018. There were many discussions on the forum, going back years, about whether aging reports should include deposits or only invoices (for both receivables and payables). An example is this discussion: Accounts Receivable CREDIT Balances not shown in Aged Receivables Listing.

Basically, some prefer an aged receivables report to only include receivable invoices. Others believe the report should match the Accounts receivable balance. Accounting references and texts can be found supporting both viewpoints. The current format does no harm. The report does not go to customers. This is not an error, as your original title suggested. It reflects a formatting decision.

3

Yes, transfer those “security deposits” from the Accounts Receivables account to a Current Liabilities account as they are a liability to you.

You can use the Special Accounts tab to manage them within one Balance Sheet account.
Read this guide https://www.manager.io/guides/10555