Vendor Maintenance Initialization Parameters are normally set-up with our Training Staff. One of the initialized parameters is for Aging. The file determines whether aging is to be calculated on a monthly or a daily basis, and whether aging will be done based on the document date, or the due date. You can also choose to have the sale amount posted to the monthly totals reduced by the non-discount amount.
Task #9 has three aging reports:
#1 - Quick Aging Summary from Vendor File Numerical gets the information from the Vendor Master File (Task #17).
#2 - Quick Aging Summary from Vendor File Alphabetical gets the information from the Vendor Master File (Task #17)
#3 - Aged Trail Balance with Optional Detail gets the information from the AP Open Items File (Task #21)
NOTE: Aging can be done daily, monthly or by accounting periods. If your accounting periods are not the standard ‘monthly’ accounting periods but, for example, 4 weeks one ‘month’, 5 weeks the next ‘month’ and then 4 weeks in the final ‘month’ of a quarter, you may want to instead ‘age’ by the accounting PERIOD. To accomplish this, go to:
Accounts Payable (Module 3)
System Management Functions (Task 32)
Modify Parameter Files (Sub-task 22)
Aging (Option 2)
Look for the parameter: TYP'OF'AGE=
- Options are: DAILY or MONTHLY or PERIOD
- Look for the parameter: TYP'OF'AGE=
- Aging (Option 2)
- Modify Parameter Files (Sub-task 22)
- System Management Functions (Task 32)
Options for aging reports #1 and #2 are:
Skip Zero Balance Accounts: Y/N
Reports can be run by selected "vendor types" OR all "vendor types"
Reports can be run by selected vendor numbers (report #1) or vendor names (report #2) OR all vendors by number or name.
Options for aging report #3 are:
- Aging date: if using for balancing purposes use the last day of the month.
- Print item detail ? Y/N, use YES is using report for balancing purposes
- Invoice cut-off date: use the last day of the month if using the report for balancing purposes.
- Starting and ending division: Press Enter for ALL.
- Starting and ending vendor: Press Enter for ALL.
If using aging report #3 for end-of-the-month balancing, use the following steps:
Using an adding machine, add the previous month's ending accounts payable total to the total of the current month's posted vouchers, then subtract the total of the current month's posted checks paid and discounts taken. The result should be equal to the grand total balance on the Aged trial balance report.