Getting Started > Entering Accounts Receivable Balances

Aging Account Balances

Balances entered into the system are aged in the following categories:

• Current Contains balances less than 30 days old. All balances entered in this category age as if they occurred today.

• 30 Days Contains balances 30-59 days old. All balances entered in this category age as if they occurred 30 days ago.

• 60 Days Contains balances 60-89 days old. All balances entered in this category age as if they occurred 60 days ago.

• 90 Days Contains balances 90-119 days old. All balances entered in this category age as if they occurred 90 days ago.

• 120 Days Contains balances 120 or more days old. All balances entered in this category age as if they occurred 120 days ago.

• Credit balances are automatically aged as Current, regardless of how old they are.

All activity that falls in the same aging category is consolidated into one starting balance transaction for that category; you should never have more than five starting balance transactions on any one account. The exception is if you enter balances by producer, dividing them among the producers in your practice: you may have as many as one starting balance per aging category per producer.

• If you enter past-due balances that you do not expect to collect, you can overstate your accounts receivable.

Related Topics

Entering Starting Balances

Entering Balances from Ledger Cards

Entering Balances from an A/R Report

Aging Account Balances

Dividing Balances by Producers

Resolving an Accounts Receivable Mismatch

Managing Collections