(Vendor Defaults)
To set up how purchase invoices are aged and what aging brackets will
be used for accounts payable,
Age Invoices By
Choose either Invoice Date or Due Date. If you age by invoice date, the aging report shows how old each invoice and each vendor balance is. If you age by Due Date, the aging report shows how overdue each invoice and each vendor is.
Many people choose to age vendors by Due Date and customers by Invoice Date.
Aging Categories
Use this to set the ranges of days and the column headings for the Aged Payables report and the Payment Manager. The columns print from left to right starting with the 1st column. The # of Days field can be either the number of days beyond the invoice date or beyond the due date, depending on what you enter in the Age Invoices By field.
For example, entering 30 for the 1st column would display all current invoices 30 days late. Entering 60 for the 2nd column would display all invoices that are between 31 and 60 days overdue. Entering 90 in the 3rd column displays all invoices that are more than between 61 and 90 days overdue. The fourth column will show all invoices that are more than 90 days overdue.