AR Report to support provision for bad debt. Aged receivables older than ...as at the end of prior fiscal year with receipts as at current date

QUESTION: Is it possible to prepare a report showing A/R that was older than 180 days at Dec 31st, how many have been collected by March 31st and how many remain outstanding?

RESPONSE: One of the great features of Acumin is that its historical attribute which allows to restate a position – for example Aged AR Older than 180 days as at December 31st. The report can also be executed to include  payments and invoice cancellations to-date to validate the provision for bad debt, for example for the fiscal year during an audit; as well as the effectiveness of collection efforts.

The following screenshots are for the filter you would need to apply to generate the report.

Then execute the same report again but with the “Include All Payments & Invoice Cancellations to Date”. The difference should validate the provision for bad debt as well as the effectiveness of collection efforts…