The Aged Payable and Receivable reports display the due amount as of today and to be received or paid in the coming days. Ageing of accounts receivable and payable is a major part of the business. When revenue and expense are balanced, companies can seize growth opportunities and maintain positive relationships with customers and suppliers.
What Is the ageing of accounts receivable?
- A company’s accounts Receivable includes the amount receivable from Customers. Accounts receivable aged is a periodic file that categorizes an organization’s receivable amount in line with the duration of time an invoice has been outstanding.
- Ageing of accounts receivable is a report that lists unpaid customer invoices and unused credit memos by date ranges. This is a warning sign that your business may slow down or that your company may take more credit risk in your sales.
What Is Account Payable?
- A company’s accounts payable includes the amount payable to suppliers/Vendors and other creditors. Accounts payable usually show unpaid bills. Accounts payable comprise debt from the purchase of inventory, supply, services, etc. to operate the business.
- When the finance team receives a valid bill for products and services, they record it as a journal entry and posted as an expense in the general ledger. The balance sheet shows the total liability.
Receivables and Payable Reports in Odoo15
- First, install the Accounting Module from Odoo –> Apps.
- After installation, you can see the Accounting module in Odoo. Then go to the Accounting module you can see Reports Menu Click on that you can see 2 menus Aged Receivables and Aged Payable under Partner Reports Menu.
- Then click on Aged Receivable Menu, you can see receivable amounts Details
here you can see the customer and due amount groups in the report with different periods like 1-30 days,31-60 days etc and last shows the total due amount.
Click on this dropdown you can see different invoices of that customer and it helps to analyse the receivable amount.
And click on this menu on the header part of the view you can filter by last month, last Quarter etc and also add a custom filter by clicking on the Custom menu.
Click on the Partners menu, you can filter this view by partners and Tags
by clicking this unfold all Option, unfold this records
You can see 3 buttons in the top left corner PDF, XLSX and SAVE button. Click on the PDF button you can get a Pdf report.
Click on the XLSX button to generate an excel report
then click on the Save button, and you will get a pop-up.
Select the export option as Pdf / Excel and click on the Export button, this saves as documents.
Then click on Aged Payable Menu, you can see a list of payable amounts
here records are grouped as Supplier /Vendor Wise and show Payment dues in different periods like 1 -30 days,31 – 60 days, etc.
Click on the dropdown menu you can all bills against that supplier
You can see filter by Month-wise, Quarter-wise, Vendors wise etc same as Aged Receivables and also unfold option. you can see a similar button like pdf, xlsx, save in payable view.