The Aged Creditors report is used to view the amount of money that you owe to your suppliers (also known as creditors) until a specific date. It will display the current balance you owe and also the historical balance over the last three months and beyond. Access this report in Tools and Reports > General Reports > Aged Creditors. The date field is the reporting date and will show the supplier balances as of then:
- Running from todays date will show the suppliers current outstanding balance that you owe them.
- Running from a past date will show you the suppliers outstanding balance that you owed them as of that date. This could have changed based on payments paid since then.
Use the include a detailed breakdown tick box to see the exact receipt numbers and receipt dates that make up the suppliers balance.
When ready, click the Next button.
Understanding the report
The report generated will be made up of 7 columns:
- Supplier - this is the supplier that has an outstanding balance.
- Balance - the total amount of money that you are due this supplier.
- Current - the amount of money that you are due the supplier, but not overdue.
- Prior month 1/2/3 - the amount of money you are due the supplier from these periods.
- Older - the amount of money you are due the supplier from more than three months ago.
The totals are displayed at the bottom. You can print this report and also download it in a CSV format using the buttons at the top of the screen.
If you've noticed that your aged creditors report doesn't agree with overdue receipts then it's likely that there is an advanced payment on the customer’s account. This is negated against any outstanding amount on the suppliers account. You can view advanced payments on account by going to Suppliers > Selecting the Supplier > Purchases Etc > View the advanced payment section.