• Overview
• Viewing the trial balance
• Creating memos for the trial balance report
• Trial balance aging

Trial balance aging

Trial Balance reports show outstanding amounts across multiple periods in summary or detail formats. Using trial balance reports filtered by age of transactions, you can easily ascertain how much the client owes from the current period, the previous period, two periods prior, and from over 3 periods ago etc.

Outstanding amounts per transactions (invoices or credit amounts) are displayed in aging columns based on the aging date from transactions’ date period to the "To date" in the report properties.

For example if an invoice was created in January (period 1) and the "To date" in the properties of the trial balance report is selected to be the end of March (end of period 3), the outstanding invoice is aged from period 1 to the end of the period 3 (the report’s date). Thus, it appears in column three.

Aging filter conditions

When a report is filtered by aging, it filters out the clients whose records do match the condition set in the aging filter. For example, if filtering by "Over 90 days", the report filters out the clients records that don't contain transactions over 90 days and shows only the ones with such transactions.

When a client record is included in the report, all the transactions for that client regardless of there age, are shown. The only condition is to have at least one transaction meet the filter.

The following aging filters can be selected in the Document Properties

All	No filter
Current	Client has outstanding items in current period of file
Ranges	Client has outstanding items within the day range
Over # days	Client has outstanding items over the days choosen

Aging dates

The periods used in aged report reflects the aging dates set in the Company Profile 4 Aging tab. If the aging dates are the same as the accounting period dates set in the Dates tab (default), then this report shows the headings based on that. If the aging dates are different from period dates, first the option to use the accounting periods needs to be deselected in the Dates tab and then the applicable aging dates need to be specified in the Aging tab.

Aging headings for receivable reports

Up to seven aging columns can be selected to display on reports. In Time 2004, there are 2 options available in the aging tab of company profile to select from.

Calculated aging:

Using this selection, aging periods are calculated between the beginning and the last day of each period set in the Period Dates section. The descriptions are placed in the report headings.

For example if the current period is 31 days, the next period will start from 32 and would end to 59 if the next period has 28 days.

Fixed aging:

Using this option, aged reports display a fixed range of aging e.g. 30-60 days, 60-90 days etc., regardless of number of days in the periods.