Receivables lets you view your customer’s outstanding account balances by aging bucket. Aging buckets are time periods in which you age and can review your debit items. For example, you can define an aging bucket that includes all debit items that are 1 to 30 days past due. You can define your own aging buckets or customize the aging buckets that Receivables provides.

When you view your customer balances by aging bucket, Receivables calculates and displays the total outstanding amount and the credits not aged for unapplied cash, on–account cash, and on–account credits. You can modify your display by specifying an aging bucket or by choosing to age or summarize open credits.
Receivables selects a transaction for aging if its GL date is prior to or the same as the current date. Once selected for aging, Receivables uses the following formula to determine the number of days past due for each transaction:
(Current Date) – (Due Date) = Days Past Due
Receivables then groups each transaction into an aging bucket based upon the number of days it is past due. For example, your customer has four invoices, Invoice 101 to 104, all of which are due within 30 days. For each invoice, this table shows the invoice number, the amount due, the important invoice dates, and the number of days past due:

If you choose to view this customer’s past due transactions using the ’Standard’ aging bucket, Receivables groups these invoices by the least number of days past due first, as illustrated in the table.

Note: This is a simplified example. Activities such as receipt applications, adjustments, and credit memos will affect the open
amount if the activity GL Date is prior to or the same as the current date. You can view open items as of a specific date by running one of the Receivables Aging reports.

On–Account Cash: The total amount of on–account cash for this customer. If you chose to ’Summarize’ Open Credits in the Find Aging window, Receivables displays your on–account cash amount here.

On–Account Credits: The total amount of open on–account credits and credit memos for this customer. On–account credits and credit memos are open until you apply the entire amount to invoices, debit memos, or chargebacks. If you chose to ’Summarize’ Open Credits in the Find Aging window, Receivables displays your on–account credit amount
here.

Outstanding Amount: The receivables balance due, adjusted for all credit items, for this customer. Receivables calculates the adjusted balance for your customer as the outstanding balance minus unapplied cash, on–account cash, and on–account credits. If you chose to ’Age’ Open Credits in the Find Aging window, the Adjusted Balance is the same as the Outstanding Balance because Receivables automatically includes your credits in the bucket amounts.

Pending Adjustments: The amount of adjustments that are currently pending approval.

Receipts At Risk: The amount of this customer’s receipts that have not yet cleared the bank and factored receipts that have not been risk eliminated. You must check the Include Receipts At Risk box in the Find Aging window to view this amount.

Unapplied Cash: The total amount of unapplied cash for this customer. If you chose to ’Summarize’ Open Credits in the Find Aging window, Receivables displays your unapplied cash amount here.