Age Period
Last updated
Last updated
Aging periods are used to classify carrier/dealer accounts that are overdue; finance charges and collection messages are driven by aging period. By default, Circulation uses the billing periods on the Statement Calendar to determine aging periods for each bill source. For example, if an account belonged to a bill source that billed every 30 days, any balance past due for 30 days would fall into aging period 1. If after 60 days it was still not paid, it would fall into aging period 2 and, after 90 days, into aging period 3.
However, you may want your aging periods to run on a different schedule than the billing cycle. You would then use this option to define aging periods of your own for each company and bill source. For example, if the Tribune’s aging periods are 1-30 days past due, 31-60 days past due, and 61-90 days past due for accounts that are billed weekly, the following aging periods would be set up:
Tribune
Weekly
1
30
Tribune
Weekly
2
60
Tribune
Weekly
3
90
Business Rules determine whether bill sources age by days, billing periods, or the Aging Calendar. You need define aging periods here only if you select “days”. Business Rules also determine the most recent aging period for which a finance charge can be applied.
Aging is reported in the and (see the Circulation User Manual).
Select Age Period from the Account Billing menu to display the Age Period screen.
Click the Add icon and complete the following fields.
COMPANY
setup
Enter the company for which the aging periods should apply.
BILL SOURCE
setup
Enter the bill source for which the aging periods should apply.
AGE PERIOD
predefined
Enter the aging period, 0 through 13, that you are defining for this company and bill source. Age period zero (0) indicates the current period (i.e., no days past due).
AGE DAYS
integer (3)
Click OK to save the aging period in the database or Add Another to save the existing record and add another aging period.
Enter the maximum number of days a balance can be past due and still be in this aging period. Due dates for invoices are defined in Terms (see ).
