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Aged Payables Report

Brief Description  

The Aged Payables Report displays current and overdue supplier invoice balances grouped by supplier.

 

Use Cases 

The report helps determine the amount to be paid to suppliers and the ageing of the associated invoices.

 

Finding and Using the Report

  • In Actionstep Practice Management, go to Reports > Accounting Reports. (Your menu may show Reports > Accounting Reports > Reports List.)
  • In the Purchases section, click Aged Payables. The report is displayed.

Then, refer to these articles for help generating and saving reports for future use:

 

Available Filters

Note: In some systems, the term Supplier may be replaced by Vendor.

  • As-at date: This date dictates the invoices to be included on the report and the date criteria for which the invoice is aged. Invoices with an invoice date (or due date if selected) will not appear on the report. If an invoice was paid today, setting this date as yesterday would show the amount to be paid at that time. This allows for insight into what was owed at a given point in time.
  • Report Type: Choose the type of report you want to generate: 
    • Detailed (by invoice) displays a table row for each invoice outstanding for the supplier.
    • Summary (by customer) displays a summary row for each supplier. The figures in the row sum amounts for all invoices from that supplier.
  • Report On: Choose whether ageing is determined by Invoice Date or Payment Due Date.

  • Order By: Choose the order records are displayed on the report tables.

    Note: This option is only applicable to the Detailed Report Type, as the data points to determine the order are not available on the Summary table.

  • Limit to Participants: This allows you to select if you want to run the report for all suppliers/vendors or for nominated individual suppliers. Multiple participants can be selected. If a participant is selected in Limit to Participant(s), the report will only display results for invoices where the selected participant is the supplier.
  • Currency: The currency field dictates which invoices display on the report by currency. Only invoices of the selected currency will be displayed. (This option is only available in systems that support multiple currencies.)

 

Report Output

When generating this report, the report is automatically generated as a PDF and saved to your computer.

When selecting a 'Detailed' Report Type, the contents of the report include:

  • Matter: Shows the matter that the supplier invoice/vendor invoice is linked to (if any).
  • Our Ref: Shows the Actionstep reference for the supplier invoice/vendor invoice. This is your reference number for that record.
  • Their ref: Shows the reference the supplier/vendor have on the invoice that they sent to you. This is their reference number for that record.
  • Invoice date: Shows the date of the invoice.
  • Total due: Shows the total that is owing to the supplier for that invoice.
  • Current & the columns for the three months prior: The Current column and the three columns after it will be used to give an indication of how aged the amount owing is. If the supplier invoice is due in the current month (the month of the date that you run the report on) then the amount will appear in the current column. If it is due in one of the three previous then it will appear in the column representing that month. If the amount has been due for longer than the last three months it will still appear in the last column.

When selecting a 'Summary' Report Type, the contents of the report include:

  • Primary Supplier Name: Shows the supplier/vendor’s name.
  • Total due: Shows the total that is owing to the supplier for that invoice.
  • Current & the columns for the three months prior: The Current column and the three columns after it will be used to indicate how aged the amount owing is. If the supplier invoice is due in the current month (the month of the date that you run the report on) then the amount will appear in the Current column. If it is due in one of the three previous  columns, it will appear in the column representing that month. If the amount has been due for longer than the last three months it will still appear in the last column.

 

Additional Information

You may notice that on the Aged Payables Report, the A/P Total may not match the GL Balance shown in the footer, even though your books are correct.

This happens when the GL Balance figure only includes transactions dated on or after your organization's financial year start date. If you have unpaid supplier invoices dated before that date, they're still correctly included in the A/P total (which reconciles to your Trial Balance), but they're excluded from the GL balance calculation, which creates an apparent variance.

This is expected system behavior, not an error in your accounts. Your Accounts Payable subledger still reconciles correctly to the Trial Balance control account.

To check if this applies to you, filter your open/unpaid supplier invoices for any transaction dates before your current Financial Year start date. If the total of those invoices matches the variance between A/P Total and GL Balance, this explains the difference.

Then, if you want the GL Balance to include these older invoices, you can change your Financial Year Start Date to a date on or before your earliest unpaid supplier invoice. Note that this does not change any figures, balances, or posted transactions. The only visible effect is that an additional financial year becomes selectable in the Balance Sheet report's year selector.

If you'd prefer not to change your Financial Year Start Date, no action is required—the underlying accounts are correct, and this is a display-only difference in how the report's GL Balance footer is calculated.

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