Audit Summary (AR194)

Run Audit Summary (AR194) to report accounts receivable activity, close Invoice Payment Average (IPA) and Days Beyond Terms (DBT) period totals, and create a static aged trial balance for each customer in a company. The report includes all accounts receivable activity since the last time you ran AR194 and both process level (if selected) and company totals. Run AR194 daily after you run Application Closing (AR190).

Processing Effect

The customer static aging periods amounts display in Credit Transaction Review (AR72.1) and Transaction Review (AR73.1) and are used when selecting customers in Dunning Letter Select (AR160) and Customer Review Selection (AR170). The aging amounts are calculated, in a due date aging format, as of the current system date using the aging options defined for the company in Company (AR01.1).

Each aging period includes two additional calculations: the percentage of each period total compared to the sum total and the Funds Outstanding Ratio (FOR) for the sum total and each applicable aging period. The FOR is not calculated for the future and current periods because the FOR applies only to invoices and debit memos and is always calculated using the invoice date. The FOR is calculated as follows: 1) for each transaction, multiply the days outstanding by the open amount to calculate the receivable days; 2) Add the open amount of all open items to calculate the total open amount; 3) add the receivable days of all open items to calculate the total receivable days; 4) divide the total receivable days by the total open amount.

If you select No in the Qualify Future Applications field, only open transactions (credit memos, debit memos, and invoices of status 1 (Open), and payments of status 2 (Open Payment) will be selected. This cuts down on the number of records that need to be read (and the processing time involved).

Note: "Qualify future applications" refers to applications that have a GL date greater than the "as of" system date. If you select Yes, then a future application will not be considered as part of the "as of system date" open amount logic. If you select No, then a future application will be considered as part of the system date "as of system date" open amount logic.