Aging Specification

Infusion offers two methods of ageing for Suppliers and Customers.  Each module can be set on a different method. The two types of aging are Monthly and Daily. These are configured under Admin / Defaults / Manage Customer Defaults or Manage Supplier Defaults.

Monthly Aging

This type of ageing rolls the balance between the current and 1 month column on reports and statements at the end of the calendar month regardless of when the transaction was dated in the month.                           

Example:

Invoices dated on 1/07/2021, 10/07/2021, 31/07/2021 will all move to the one month column on the 1^st of August. 

Note: This type of ageing is comparative to a system where there would be monthly close off's.

Daily Aging

This type of ageing rolls the balance between current and x number of days when the required number of days have passed since the transaction date.

Example:

An Invoice dated 1/07/2021 with aging set to 7 days will appear in the 7 days column on the 8^th of July

An Invoice dated 31/07/2021 with aging set to 7 days will appear in the 7 days column on the 7^th of August

Note:  This type of ageing can not successfully be used to replicate monthly aging as each month does not have the same number of days