Aged Receivables represent one of the key components of any business, as they show the amounts owed to the company by customers for goods or services sold on credit.
Over time, payment periods may vary between customers, which makes it essential to monitor receivables accurately and systematically to maintain a healthy cash flow and avoid the buildup of uncollected debts.
Wafeq provides two Aged Receivables reports that help you analyze and understand your customer balances with precision:
Aged Receivables (Summary): Displays the total outstanding amounts grouped by aging periods for each customer.
Aged Receivables Detail: Shows every unpaid invoice along with its date, amount, and number of overdue days.
Together, these reports give you a comprehensive and actionable view of your company’s receivables status, helping you make more informed financial decisions regarding follow-ups, scheduling, and credit management policies.
Why Are These Reports Important?
The Aged Receivables reports are among the most essential financial monitoring tools in Wafeq, giving you clear visibility into your company’s collection performance and liquidity position. Their importance lies in the following:
Accurate tracking of outstanding debts: Identify the total amounts yet to be collected and their due dates, helping you manage the collection cycle efficiently.
Identify overdue customers: Quickly see which customers have exceeded their payment terms to enable timely follow-up and action.
Improve cash flow management: Provide a practical indicator of expected cash inflows, supporting better liquidity planning and payment scheduling.
Assess receivables quality: Evaluate how well customers meet their payment obligations and identify high- or low-credit-risk clients.
Enable better financial decisions: By comparing different periods, you can detect trends in receivables and take early action before they turn into financial risks.
Enhance internal control: Allow management to continuously monitor collection performance and ensure all invoices are properly recorded and tracked.
Viewing and Understanding the Aged Receivables (Summary) Report in Wafeq
To access the Aging Summary Report, go to "Reports" from the main menu, then select "Aged Receivables"
under the "Sales" section.
The Aged Receivables (Summary) report provides a consolidated overview of all outstanding customer balances, grouped by the age of each receivable.
It helps you understand your company’s overall collection position by dividing balances into time-based buckets — such as Due Today, 1–29 Days, 30–89 Days, and so on — to show how long each balance has been outstanding.
Each column represents a specific time range, allowing you to see the total due per customer, overdue amounts within each range, and the overall total at the bottom of the report.
This structure helps you analyze collection speed and identify customers with long-overdue balances, making it easier to decide on follow-up actions or adjustments to credit terms.
Actions and Options
From the top of the report, you can perform several actions, such as:
Selecting the reporting period from predefined options or entering a custom range.
Choosing the currency in which the report should be displayed.
Filtering data by customer, branch, project, or cost center.
Exporting the report in PDF or Excel format.
Please note that the columns in this report are fixed and cannot be modified or hidden, as they contain essential financial data required for accurate reporting.
Viewing and Understanding the Aged Receivables Detail Report in Wafeq
To access the Aged Receivables Detail report, go to "Reports" from the main menu, then select "Aged Receivables Detail" under the "Sales" section.
The Aged Receivables Detail report provides a granular, invoice-level breakdown of all outstanding receivables.
It allows you to view every unpaid invoice along with its issue date, due date, number of overdue days, and remaining balance.
The table is divided into the same aging periods (e.g., Due Today, 1–29 Days, 30–89 Days, etc.), but here each invoice appears as an individual record, giving you a clear view of all outstanding transactions.
This detailed layout helps you manage daily collection operations efficiently.
You can easily identify which invoices have exceeded their due dates and prioritize follow-ups or communication with customers accordingly.
Actions and Options
Just like the summary version, you can perform several actions directly from the top of the report:
Select the reporting period from predefined options or enter a custom range.
Choose the display currency.
Filter data by customer, branch, project, or cost center.
Export the report to PDF or Excel.
Note that the report’s columns are fixed and cannot be hidden or edited, as they include core financial fields required for accuracy.
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