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An update to the Aging Report

We're changing how the Aging Report in Financial > Billing > Reporting works. We anticipate a release date before March 26, 2021.

We first designed the Aging Report around a complex web of mappings among invoices, payments, and credits to present what a given invoice's unpaid amount would have been at a certain point in time. It was built around a consensus of customer requests and worked for many people; however, it departed from typical accounting practices in some notable ways... which caused issues for many others.

The new Aging Report is based Accounts Receivable and so will match the General Ledger exactly. It presents student balances at a given point in time as opposed to the total amount of a student's unpaid invoices.

Things to look out for

If you're used to the old way, here are things to keep in mind about the new Aging Report:

  • Unapplied payments can no longer be split out. These were an odd case in the old report because the time periods
  • Refunds and uncollectible debt will be factored into this report for the first time.
  • The numbers presented by the report will differ from what you used to see! However, the report will be more useful to your school (and will still let you identify problematic accounts).
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5 Comments

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    Matt Lundy - ISSA Staff

    Thanks! Big help. We do GL entries to another accounting system and so an recreating an Aging report, (required by our auditors), was a difficult process.  

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    Pat Martens

    Thank you!  This has been an ongoing challenge for us with our auditors as well. Looking forward to seeing the updated report and appreciate your hard work for us on this.

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    Jennifer Smith

    Has it been updated?  It looks the same to me.

     

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    Adam Sentz

    Jennifer Smith - Not quite yet, but shouldn't be too much longer. Sorry for the delay!

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    Adam Sentz

    The Aging Report update is live!

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