What is mean by Account Payable and Account Receivable?
Keeping track of your ARs and APs helps you understand the health of your business finance. Regularly maintaining records ensures that you are up to date with who owes you money or who you owe money to, allowing you to be fully aware of your financial situation. This allows you to know how much money you have at your disposal, and how much money you will be paying for all your bills.
AR is important as they indicate that a business has successfully obtained orders and that it can expect an inflow of funds. In the world of accounting and balance sheets, AR is considered an asset, as it can be turned into cash in the future.
Pending AP is an indicator of your business’s inability to pay off bills on time or insufficient cash flow, and are recorded as liabilities in a balance sheet, as funds are expected to leave the company.
Here the Combined Aging Report will give both the Payable and Receivable outstanding total.
Here you are going to learn about the steps to generate the Combined Aging Report.
1. Login with Fresa Gold, Navigate to Accounts module, select General Accounts (Fig.1)
2. Select Combined Aging Summary Report, it will reflect both the Receivables and Payable in outstanding in total (Fig.2).
3. Once selected the Report, select the COA as Combined, Currency, Group Organization, Cash or credit and Agent/Non-Agent, once selected, click Submit button. it will reflect the report based on the above filter option (Fig.3).
4. To take the Report, click the Report button on the top (Fig.4).
5. In List of Reports, select the Combined Aging Report (Fig.5).
6. Now in the Aging Report, you can view the COA, Group Organization, with the Organization Aging wise outstanding details (Fig.6).
I hope you got an idea about the to generate the Combined Aging Report.
For further clarification, send your queries to Support@fresatechnologies.com because our motto is to help customers.
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