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Why ageing reports have both Current and 1-30

by Intuit Updated 1 month ago

Ageing reports are best utilised to keep track of customer payments and supplier bills that are past due. Sometimes there is a confusion between Current and the 1-30 day columns.

  • Current column is anything that is not yet due. The due date is in the future of the report date and the ageing is based on the due date of a transaction.
  • 1-30+ is anything past due by the number of days that passed after the due date.
  • If there is NO due date, the transaction is considered due upon receipt and is driven by the transaction date, once a day has elapsed, the transaction will be noted as past due.

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