The Aged Balances check looks at aged Debtors and Creditors (i.e. old invoices) at a snapshot in time.
To review Aged Balances go to a Client Overview page then go to Business Insights – Aged Balances.
Setting Parameters
- Reporting Date: this is the point in time that you want to evaluate your debtors and creditors at, based on invoice dates.
- Invoice Age: the age of the invoice in relation to the Reporting Date. For example, setting the Invoice Age to two months means Dext Precision will only look at invoices that are dated older than two months from the Reporting Date.
Aged Receivables
This surfaces your debtors, old invoices for people that owe you money. You can see a count of old invoices at a glance and a sum of the total amount owed. Clicking on this card will expand to show the detail of each aged invoice, and for Xero clients, a link straight to Xero is provided if needed.
Aged Payables
This surfaces your creditors, old invoices for people that you owe money to. You can see a count of old invoices at a glance and a sum of the total amount you owe. Clicking on this card will expand to show the detail of each aged invoice, and for Xero clients, a link straight to Xero is provided if needed.
Average Debtor Days
This uses a common ratio-based method to provide an indication of the length of time it takes for your debtors to pay you. This is based on the total Receivable amount owed at the Reporting Date, and the gross revenue over the last 12 months up to the Reporting Date.
Overpayments
The check allows you to review all overpayments that still have remaining credit available at the time of the Reporting Date, by checking the dates of any allocations to make sure they are applicable. This is categorised into Overpayments relating to Suppliers and Customers.