In a typical Accounting system, Aged AR dates correspond with the terms assigned to the invoice as to whether it is Current, 31+ days, 61+ days, etc. I don’t see any definition of how Aspire recognizes these Aged AR categories and hoping someone in the community might be able to assist.
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Aged AR date correlation
Best answer by rc3
Aspire calculates Aged AR categories based on the Payment Terms assigned to the Property record. These terms establish the invoice due date, and the aging buckets (Current, 1-30, 31-60, etc.) reflect the number of days past that specific due date.
I recommend to regularly audit the Payment Terms on your properties to ensure they match your customer contracts. Incorrect terms will cause false negatives in your Aging Reports. You can manage these terms under Administration > Application > Lists > Payment Terms.
Resources:
Aging and Statements
- Employee
- Answer
Aspire calculates Aged AR categories based on the Payment Terms assigned to the Property record. These terms establish the invoice due date, and the aging buckets (Current, 1-30, 31-60, etc.) reflect the number of days past that specific due date.
I recommend to regularly audit the Payment Terms on your properties to ensure they match your customer contracts. Incorrect terms will cause false negatives in your Aging Reports. You can manage these terms under Administration > Application > Lists > Payment Terms.
Resources:
Aging and Statements
Aspire calculates Aged AR categories based on the Payment Terms assigned to the Property record. These terms establish the invoice due date, and the aging buckets (Current, 1-30, 31-60, etc.) reflect the number of days past that specific due date.
I recommend to regularly audit the Payment Terms on your properties to ensure they match your customer contracts. Incorrect terms will cause false negatives in your Aging Reports. You can manage these terms under Administration > Application > Lists > Payment Terms.
Resources:
Aging and Statements
This is incredibly helpful… thanks! To further clarify using an example:
Invoice XX has Net 30 terms and is still outstanding at 35 days - would it be considered in the 1-30 day category for Aged AR?
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