Purchase Ledger – Aged Creditors Report

Purpose:
Run at least monthly as part of End of Period routines before closing the ledger period. Use to plan payment runs and for VAT account reconciliation – see below.

Preparation:
Match as many transactions as possible prior to producing this report. This will give a clearer picture of amounts due to suppliers – see Match Sales or Purchase Ledger Transactions.

Processing:
Either: On the main menu click Ledgers > Purchase > Reports > Aged Creditors, or
click At-a-Glance control button – Creditors – Listing button – opens Printer Output Selection Box or
Reports control button – Purchase Page – Aged Creditors.
Select parameters required – see Aged Creditors Report Form below.
Select printer – see Printing Reports.
Click OK to print/display/export to selected file type.
Close form.

Balancing/Reconciliation:
Sense check odd looking amounts. Tick VAT check box to produce report with the VAT amount included in the outstanding balance – use to assist with reconciling the VAT control Account. – see FAQ-How Do I Reconcile My VAT Account.

Reporting:
Auditors may require additional copies at year end

Filing:
File with month end working papers.

Report Options:
Select range or even print single account.
Include VAT amounts on report.
Print summary (list of balances) or detailed (all transactions outstanding).
Exclude on stop accounts – to create list separate from…
List ‘on stop‘ suppliers and balances only – useful payment control action list.
Include payment terms – particularly where these are variable – export to Excel and sort for chasing.

Select Ageing Date – this could be based on invoice date or received date – see supplier parameters.

Report Order: Supplier or analysis code.

Currency option produces separate reports – showing sterling or currency values.

Click ‘OK’ to print or ‘Close’ not to print.