The Debtors Outstanding report is one of the most critical reports in a business. As a rule, it should be run at least once every month. What it does is print an outstanding balance for all your debtors.
This determines how your business is handling its debt collection. This is why banks and financial institutions commonly request this report.
Looking at the image above, I think you will find it great that you can select any date (I chose a date in 2017, seven years ago, to show how flexible our POS System is) and display numbers for this date. This feature is handy.
This report is located in Registry Report > Client Trial Balance.
This is one of the most critical reports in a business. As a rule, it should be run at least once every month. What it does is print an outstanding balance for all your debtors.
This determines how your business is handling its debt collection. This is why banks and financial institutions commonly request this report.
Looking at the image above, I think you will find it great is that you can select any date (I chose four years ago) and display numbers for this date. This feature is handy.
This report is located in Registry Report> Client Trial Balance.
You also get the date range you want the breakup among the other options. In general, most people use months, but some prefer weeks. Others use a 4-week cycle because it gives an extra month in a year. It's up to you to decide. If you need more options, click the More Criteria tab.
In the standard report, you will get something like
The name is drawn out here, but if you look at it, you'll initially see that almost everything is within 90 days. It would be a red flag if it's actual data, not many years ago.
What I find very useful is to look at it twice a month. This lets me stay on top of debt collection and spot any issues early. Monitoring the debt levels regularly is crucial for any business.
I highly recommend adding the Debtors Outstanding report to your regular reporting schedule. It can help avoid cash flow issues and keep your business financially healthy. Let me know if you have any other questions!
