Reviewing Aged Creditors/Debtors

In IRIS Financials you can run reports to view information about expected or overdue payments owed from or due to your establishment/organisation in an aged creditor or debtor report.

This topic details how to create the aged creditor or debtor report using the reports available in the Reporting Suite module and what to do if the aged creditors or debtor report does not match the details on the Trial Balance.

Reviewing aged creditors and debtors consists of the following:

Running the Aged Creditors Report

Running the Aged Debtors Report

Matching Aged Creditors and Aged Debtors to the Trial Balance

Running the Aged Creditors Report

  1. Select Modules, then select Reporting Suite from the menu.
  2. Select Aged Creditors from the Creditors/Debtors panel.
  3. The IRIS Financials Reporting Services Browser is displayed. Select the criteria for the following options:
    Please select the Company(s) - is defaulted to the company for which you are logged in.
    Please select the Location(s) - select the location(s) you want to include in the report. (All locations are selected by default).
    Please select the Ledger(s) - select the ledger(s) you want to include in the report.
    Please select the Period - is defaulted to the current period. Select the required accounting period on which you want to report.
    Please select the as at Date - select the date for which you want to view aged creditors (the selected date is not included in the results).
    Hide or Show Detail Line(s) - select whether to Show or Hide detail lines for documents within the report.
    Show Comments - select Yes or No to display any document or detail comments within the report.
    Please select Main Grouping - select whether to group results by Creditor or Location.
  4. When you have selected the required criteria, select View Report.
  5. The details of the Aged Creditor report are displayed with the details for the selected criteria.
    To save a copy of the report, select the Save icon, then select an option from the drop-down menu. To print a copy of the report, select the Print icon.

Running the Aged Debtors Report

  1. Select Modules, then select Reporting Suite from the menu.
  2. Select Aged Debtors from the Creditors/Debtors panel.
  3. The IRIS Financials Reporting Services Browser is displayed. Select the criteria for the following options:
    Please select the Company(s) - is defaulted to the company for which you are logged in.
    Please select the Location(s) - select the location(s) you want to include in the report. (All locations are selected by default).
    Please select the Ledger(s) - select the ledger(s) you want to include in the report.
    Please select the Period - is defaulted to the current period. Select the required accounting period on which you want to report.
    Please select the as at Date - select the date for which you want to view aged debtors (the selected date is not included in the results).
    Hide or Show Detail Line(s) - select whether to Show or Hide detail lines for documents within the report.
    Show Comments - select Yes or No to display any document or detail comments within the report.
    Please select Main Grouping - select whether to group results by Debtor or Location.
  4. When you have selected the required criteria, select View Report.
  5. The details of the Aged Debtor report are displayed with the details for the selected criteria.
    To save a copy of the report, select the Save icon, then select an option from the drop-down menu. To print a copy of the report, select the Print icon.

Matching Aged Creditors and Aged Debtors to the Trial Balance

If there is a discrepancy between the Trial Balance and the Aged Debtors/Creditors Report, it is usually down to documents allocated outside of the criteria being run for the report.

The most efficient way to identify the posting is by comparing the two using the following method:

  1. Run the Aged Creditor or Aged Debtor report and make a note of the criteria you selected.
    The example below shows a balance of £23,638.00 when run at 2020/21.09 with an ‘as at Date’ of 14/05/2021 for the Aged Creditors.

  2. Run a Trial Balance with the same criteria used for the Aged Creditor or Debtor report. For example, for the AST location, period 2020/21.09, etc. For more information, please see Running a Trial Balance.
    In our example, the Trial Balance on the Purchase Ledger Control (AST9500) when run at 2020/21.09 only shows a balance of £5842.00, as shown in the following graphic.
    For the Aged Debtors, the nominal used is 9300.


    Next, you need to compare the supplier balances on the Aged Creditors Report with that of the Trial Balance, to try and identify what the variances are.

  3. On the Trial Balance, right-select on AST9500 (where AST represents the location code of the nominal), then select Details from the pop-up menu.
  4. The Detail Enquiry window is displayed. From the header, drag the Account column to Drag a column header here to group by that column. message at the top of the window.

    The result should be displayed as shown in the following graphic:
  5. You can now compare the balances on the Aged Creditors (or Aged Debtors) report with that of the Trial Balance line by line.
    In our example, there is a variance on 2SI001PRF - 2 Simple. The balance on the Aged Creditor report is £4,888.00 and the balance on the Trial Balance is £3,540.00 – a variance of £1,548.00.
  6. Select Expand (+) adjacent to the accounts on both the Trial Balance and Aged Creditors (or Aged Debtors) report, to display the detail lines making up the balance.
  7. Go through and match each transaction until you find one that is on the Trial Balance but not the Aged Creditors (or Aged Debtors) report.
    In our example, there is BACS payment on the Trial Balance that is not showing on the Aged Creditor report. The reason it is not showing on the report, is that it has a period of 2020/21.09, but a date of ‘23/05/2021’ which is after the date the Aged Creditors report is being run with: 14/05/2021.
    This explains part of the variance between the Trial Balance and the Aged Creditors (or Aged Debtors) report.