AR Aging Page in TapGoods PRO
The AR Aging page in TapGoods PRO provides a comprehensive report that details the outstanding funds owed to your business by AR-Toggled Companies within your account. AR-Toggled Companies are entities for which you have enabled Credit Terms, allowing them to utilize credit as a payment method for their Orders. When a Company uses its Credit Terms, these companies are obligated to settle their balances within the negotiated Payment Terms.
Remember, there are two types of Payment Terms offered in TapGoods PRO:
- Custom: Custom Payment Terms serve as a note that will appear on invoices to clients that qualify for Payment Terms (i.e. 50% of total due to reserve items, remaining balance due 30 days before event start date). This Payment Term will be shown on customer statements and internally for your teams to review.
- Dynamic: Dynamic Payment Terms are a set period in which the Company is permitted to use the Credit Limit on their account for Payment of the Order; once this period has passed, Payment is due. (i.e. Net 30 days). These Payment Terms are shown on Customer statements and will trigger alters on the AR page based on configured times in Order Settings.
On the AR Aging page, you can efficiently monitor the Credit Balances of all your associated Companies, including their Child Companies, and track the date of their most recent payment to your business. Accessible through the Admin panel of the TapGoods PRO menu, the AR Aging page provides valuable insights into the payment status and history of your clients, allowing you to effectively manage your accounts receivable.
The AR Aging page can be found under the Admin tab of the TapGoods PRO menu.
Once you access the AR Aging page, you will find a comprehensive list of your AR-Toggled Companies, providing you with an at-a-glance overview of the following essential information:
-Company Name: The name of the Company. In case you have Multilocation enabled and a Company places orders from multiple Locations, the Company Name will appear multiple times on the list.
-Location: Your business's Location from which the Customer places their orders.
-Open Orders: The number of active Orders that the Company currently has with your business.
-Total AR: The total outstanding amount owed by the Company to your Location.
-Credit Balance: The total amount of credit that the Company has utilized from their assigned Credit Limit.
-Last Payment: The most recent date on which the Company made a payment to your business.
-0-30 Days, 31-60 Days, 90+ Days: The outstanding balance owed to your business will be automatically categorized into these columns based on the elapsed time since the order was closed. As time progresses, these columns will dynamically change to an orange color and display an alert when a Payment is considered overdue. The determination of whether a Payment is classified as late is contingent upon the Payment Term that you have configured for the Company.
If you want to Filter this page, simply click on the Filter button and then select from the given Filters. You can Filter the AR Aging page by Contact Category and by the Dynamic Payment Terms you have set up in your account; these will fall under AR Aging.
The AR-Aging page provides a clean overview that will assist you in efficiently managing your accounts receivable and maintaining a healthy financial relationship with your customers.