Updating Customer Static Aging Periods

You should run the Audit Summary report daily to update customer static aging periods, and optionally, close the Invoice Payment Average (IPA) and Days Beyond Terms (DBT) period totals. The report lists the current company aged trial balance and all accounts receivable activity from the last time you ran the report.

To update customer static aging periods

Access Audit Summary (AR194).
Run this report to update the aging periods. Use the following guidelines to enter field values:

Close Payment Averages

Select Yes if you want to roll the current Invoice Payment Average (IPA) and Days Beyond Terms (DBT) totals into the previous period and roll each past period into the preceding period.

Note: Periods for IPA and DBT are defined by this flag being set to Yes, not by any calendar on the system.

Process Level Breaks

Select if you want the report to break, sort, and subtotal by the process level.

List FOR Averages

Select Y to list Funds Outstanding Ratio (FOR) on the report. Select N if you do not want to list FOR.

Qualify Future Applications

Select N if you do not have future dated applications and the "as of" date specified is today's date. This reduces processing time dramatically. Select Y if you do have future dated applications and the "as of" date is not today's date.