Overdue Letter not ageing correctly
  • coldrick
    Posts: 61
    Joined: Wed Mar 12, 2008 10:31 am
    Location: Queensland

    Overdue Letter not ageing correctly

    by coldrick » Tue Jun 10, 2008 2:33 pm

    I have successfully run statements for my customers for last month and the ageing and balances all appear to be working correctly, however when I try to run an overdue letter, the ageing and balances are incorrect.

    As an example.

    Company A. Terms 30 days Aged by Month

    Statement Balance $877.33
    Current $877.33

    All invoices were dated May, and so whilst 30 days means that technically they are due 1st June, we usually allow our customers 30 days from end of month, so I guess we need to change our terms to 60 days to cater for this, but that isn't the main problem.

    The problem is this...

    When I use customer letters to run an overdue letter for the above customer, the overdue letter is stating that the account is overdue by $877.33 with an OUTSTANDING BALANCE OF -$1034.91 (minus $1034.91). We have had sales this month of $178.48 and the ageing on the overdue letter is showing correctly as Current $178.48 and 30 Days $877.33. But where is it getting the minus $1034.91 from?

    Some customers are getting a correct balance, but quite a few are getting these odd negative balances on the letters. One is even showing an overdue balance of $982.83 and an outstanding balance of $0.00.

    Please advise.
    Barry Coldrick
    [Never say "never"!]
    [I can't do "can't do"]
  • COBS Tech Support
    Posts: 681
    Joined: Fri Sep 09, 2005 8:23 am

    by COBS Tech Support » Mon Aug 11, 2008 5:37 pm

    For calendar aged accounts, invoices issued in May are due in June but not overdue until July 1st. So the due period is not 1st of June but 1st-30th of June. Accounts that are paid before they are overdue, may actually appear in credit for the applicable period.

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