The Aging Summary Report provides an overview of accounts or clients that are overdue on payments. It details the outstanding amounts and the number of days each account/client is past due. It’s recommended to run this report on your payment processing date and to check it regularly until all outstanding balances are cleared and the account/client is removed from the list.
Understanding the Aging Summary by Account Report
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This guide will explain the Aging Summary by Accounts report in ARC
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1. Aging Summary by Account Report
The Aging Summary report provides an overview of accounts or clients that are overdue on payments. It details the outstanding amounts and the number of days each account is past due. It’s recommended to run this report on your payment processing date and to check it regularly until all outstanding balances are cleared and the account is removed from the list.
2. Click "Reporting"
In ARC, click on the Reporting tab on the left hand side.
3. Select Aging Summary by Account, Magazine and your Title
From the drop down menus, select the Aging Summary by Account report, filter by Magazine and select your magazine. Click display to run the report.
4. View Aging Accounts
The names of accounts with outstanding invoices will generate. The cause of the missed payment may appear in parenthesis next to the account name such as declined or expired card. If there is not a cause listed this indicates the account pays by invoice or with a method other than a credit card.
5. Total Balances Due by Month
The past due amount for each account will appear in the column showing how many days it's overdue. The total overdue amount for each account will be listed in the last column of that row. At the bottom of the report, the total past due amount for all accounts will be shown for each column of overdue days.
This guide covered steps to navigate and utilize the Aging Summary by Account Report in ARC.