Accounts Payable Aging

Financial Statement | Accounts Payable | AP Detailed Report | AP Transaction Report

Accounts Payable Aging

Accounts Payable Aging Menu

Accounts Payable Aging refers to the list of unpaid invoices to suppliers. The payables are consist of inventory, supplies, and services that you avail to operate the business. The aging of accounts payable tracks who your creditors are, how much you need to pay, and how long you've owed debts over a specific period.(can be within a month range, 2 months range or over 2 months)

Requirements before using Accounts Payable Aging

• The user should setup have the following records in order to proceed on using the Accounts Payable Aging
  1. Supplier
  2. Accounts Payable

Accounts Payable Aging Menu Terms on Oojeema Prime System:

Field	Description
1. Record Filter(Supplier and Date)	Set of filter record for precise search of records. Records will be defaulted to set on Filter All for Supplier and the current date for the Date Range.
2. Export	Allows the user to export the records into spreadsheet
3. Supplier	The customer assigned for the specific Payables.
4. Reference	The reference record for the Accounts Payable of the Supplier. Clicking the Payables link will let the user view the status of the Payable.
5. Transaction Date	The date when the Payables is issued.
6. Terms	The set default days on the Supplier for you to pay your outstanding balance on their payables. Aging will start when the days on the Terms are exceeded. Default Terms can be edited through Supplier Maintenance Module.
7. Due Date	The date on which the receivable should be paid. Due dates will based on the Transaction date plus the Terms applied on the Supplier. If there are no Terms applied on the Supplier. The due date will be automatically set into 7 days after the Transaction Date.
8. Current	The balance to be paid on the payable during the span of Transaction date up to Expiration Date.
9. Aging Range	A range of days where the payable exceeds to its due date. Range will be categorized within 30 days , within 60 days and more than 60 days.
10. Balance	The total amount to be paid on a specific Transaction.

Notes:

• Supplier record must be ACTIVE status in order to check its payables aging records.
  • Supplier records can be seen in Supplier Maintenance Module.

Filtering Records and Exporting Accounts Payable Aging

1. Click Reports under Main Menu
2. Under Reports Page, Click Accounts Payable Aging under Financial Statement Reports.
3. Under Accounts Payable Aging, click the Export Button on the right side. Take note that the user can filter the date and the supplier for precise exportation of records.

Viewing Vouchers on Accounts Payable Aging

1. Click Reports under Main Menu
2. Under Reports Page, Click Accounts Payable Aging under Financial Statement Reports.
3. Under Accounts Payable Aging, click the reference links under reference column to check the records corresponding to the supplier’s transaction on a specific date.
   • The user may issue payment while viewing the selected Voucher
   • The user may Tag a Profit Center if the user chose to edit the Voucher