Payables Aging Schedule

The Accounts Payable Aging Schedule is a report that lists all of the unpaid (open) invoices that exist in the Payables System as of a specific date. This report includes an aging column for current, 30 day, 60 day, 90 day, 120+ day amounts, and one for retention amounts. The aging column that is selected for each invoice amount is determined by comparing the invoice date with the report cutoff date.  

This report should be printed as of the end of each month with the Reconstructed option and reconciled to the corresponding account(s) on the general ledger Trial Balance report.  The cutoff date controls which invoices are included on the report.  For example, if a cutoff date of 04/30/1999 is entered, then any invoice with an invoice date that falls after 04/30/1999 will NOT be included on the report.  The reconstructed option allows AccuBuild to re-build the aging schedule to reflect all unpaid invoices as of the cutoff date even if the invoice was paid after the cutoff date.

AccuBuild uses up to four different account numbers for payable amounts depending on the set up in the Payables > Properties and Orders > Properties options. The aging schedule prints a total balance amount on the last page of the report and this amount should equal the total of the general ledger accounts payable account(s).  If these amounts do not match, then please refer to the documentation titled Reconciling Payables.

Note:  The Void Checks option will automatically reinstate the related accounts payable invoice(s) back into the open (unpaid) invoices file. The Void AP Check screen will display how many invoices have been reinstated successfully. If the screen displays that an invoice was not restored, select the File - Browse User Activity Log option to find and print the message. Keep in mind that a handwritten accounts payable check may contain links to invoices that have already been entered into the open (unpaid) invoice file as well as invoices that have not. Therefore, only those invoices that were originally in the open invoice file will be reinstated.  Invoices that have been reinstated will be printed on the accounts payable aging schedule with a code at the end of the invoice description indicating how the reinstated invoice matches the coding of the original invoice. Please contact AccuBuild's technical support staff for further analysis if any reinstated invoice prints with a code other then [RO].

•[R0] – Indicates the invoice was found on the historical purchase journal (purchjnl.db) and the vendor and invoice coding matches the voided check info.

•[R1] – Indicates the invoice was NOT found on the historical purchase journal (purchjnl.db).

•[R2] – Indicates the invoice was found on the historical purchase journal (purchjnl.db) but the vendor and/or invoice coding did NOT match the voided check info.

•[R3] – Indicates the invoice type returned by the purchase journal lookup routine was invalid – this should never happen unless data files are tampered with via modify data or batch log edits.        

Traditional Version - The Accounts Payable Aging Schedule may be printed in nine formats from the Payables Module.  (Note:  These report formats are designed with Crystal Reports which is no longer supported in AB.  Users may use these reports for as long as they remain in the system but these reports cannot be modified or updated if an error is encountered).

•Invoice Ref No Order:  Lists each invoice in order of the reference number that AccuBuild assigns to the invoices during invoice entry.        

•Job Order – Vendor Summary: Prints the total of all invoices for each vendor in job number order.  A partial list may also be generated for selected jobs.

•Job Order – Vendor Detail: Lists each invoice for each vendor in job number order. A partial list may also be generated for selected jobs.

•Vendor Order - Summary:  Prints the total of all invoices for each vendor.  A partial list may also be generated for selected clients. This report may also be sorted by vendor number or vendor name.

•Vendor Order – Detail:  Lists each invoice for each vendor. A partial list may also be generated for selected clients. This report may also be sorted by vendor number or vendor name.

•G/L Account Order - Summary:  Prints the total of all invoices for each general ledger expense account. A partial list may also be generated for selected general ledger accounts.

•G/L Account Order - Detail:  Lists the detail of all invoices in order of the general ledger expense account. A partial list may also be generated for selected general ledger accounts.

•Payment Date Order - Summary:  Prints the total of all invoices for each proposed payment date (due date). This report may also be sorted by vendor number or vendor name.

•Payment Date Order - Detail:  Lists the detail of all invoices in order of the proposed payment date (due date). This report may also be sorted by vendor number or vendor name.

MAR Version - The Accounts Payable Aging Schedule may be printed in three formats from the REPORTS module.   If you are using AB's document management system to save copies of a/p invoices and link them to the invoice record, then you may utilize the drill down feature in these reports to display the linked document image.

•A/P Aging Schedule - Job Order (APREP02A.577) - Lists each invoice for each vendor in job number order. A partial list may also be generated for selected jobs.  

•A/P Aging Schedule - Vendor Order (APREP02B.578) = Lists each invoice for each vendor. A partial list may also be generated for selected clients. This report may also be sorted by vendor number or vendor name.  

•A/P Aging Error Report (APREP02C.579)   This report checks for problems with the unpaid invoice balance.  This report reconstructs each payable invoice balance by rebuilding the payable amounts and subtracting the unpaid amounts on each invoice and comparing the computed balance to the current open balance on the invoice (if any).  This can help to pinpoint issues when they arise which can happen with batch log editing.

Retention on Subcontractor Payment Sheets

•Note #1:  Each progress billing created through the Subcontractor Payment Sheet process will post two separate invoices to the aging schedule: one for the net amount (gross amount less retention withheld) and one for the retention withheld.  The retention withheld invoice will be 'hidden' from view when you pay your progress billings so that you do not accidentally pay retention before it is due.  When you are ready to pay the retention, you should create another subpayment sheet using the Retention button.  This will create a separate subpayment sheet for the full amount of the retention held to date on the subcontract that you can print and give to your subcontractor along with the check.  This invoice will show zero retention withheld and the current amount due will equal the total of the retention amounts that were previously withheld.  Behind the scenes, the system is moving the retention amount from the Retention column to the Current column on both the a/p aging schedule and the Subcontractor Payment Sheet Summary report.  When you pay the retention, be sure to select the 'Include Retention Invoices' option so that you can see all of the retention entries for your sub.  This will include the invoices where the retention was originally withheld as well as the in/out retention invoice that you created with the Retention button above.  The net amount of all of the entries should be the amount of retention you need to pay your subcontractor.  Be sure to select all of the invoices for payment and not just the 'current' portion of the retention invoice, otherwise the other retention invoices will stay on your aging schedule indefinitely.  

•Note #2:  It is important to follow the steps in Note #1 if you are planning to give your subcontractor a copy of the payment sheet that reflects that retention is being paid.  Again, the primary purposes of this step is to print an invoice for the subcontractor to explain what is being paid, and to move the retention amount from the Retention column to the Current column on the A/P Aging Report and Subcontractor Payment Sheet Summary report.  Due to the fact that the system has already created retention invoices with each subpayment sheet, it is not required that you do create the separate Retention invoice in order to pay the sub.  The retention amounts will remain in the retention column on the A/P Aging Report until paid.  The Subcontractor Payment Sheet Summary report will continue to show the retention amount in the Retention column along with the payment status.  When you pay the retention, be sure to select the 'Include Retention Invoices' option so that you can see all of the retention entries for your subcontractor.  This will include the invoices where the retention was originally withheld but there will not be an in/out entry as described in Note #1 above.  The net amount of all of the entries should be the amount of retention you need to pay your subcontractor.

•Note #3:  If you followed the steps in Note #1 to create an retention invoice for your sub, and failed to select all of the retention invoice entries for that subcontractor when you paid the retention, then invoice entries netting to zero will remain on the A/P Aging Schedule indefinitely.  The best way to remove these 'extra' entries is to create a handwritten A/P check to the sub with the net amount of the check as zero.  You can then use the 'Payable Link' option on the handwritten check screen to attach to each individual retention invoice.  Once all the applicable retention entries have been selected and your entries net to zero, you may post the check.  The invoices will be marked as paid and removed from the A/P Aging Schedule.  Be sure to date the handwritten check the same or after the last invoice date that you are trying to clear.  It is best to work with the printed aging schedule (full detail) in front of you when trying to make the check entry to ensure that you selecting the correct invoices.