Hi
I make regular payments (prepayments) to my energy supplier and I am in credit. Why do they not appear in the creditor’s control aging report?
My creditors aging report is always out of kilter with my balance sheet creditors report.
The creditors ageing report will show any outstanding amounts and prepayments for suppliers that are listed.
If you’re looking for just a general list of prepayments, if you go to the supplier overview and do an advanced search, you can select “Prepayments” as one of the options to show:
Hope that helps!
Hi , thats a useful report. I discovered some prepayments that didn’t have any invoices allocated !
However, I now have one supplier with prepayments of £151.83 but they don’t appear on my ageing creditor report as a prepayment.
Do you have an outstanding balance with the supplier at the moment?
Hi
No, all invoices are allocated and prepayments have reduced to what it is now.
The ageing report will only show suppliers where they have an outstanding balance. If there’s no outstanding balance, they won’t be shown, regardless of their prepayment status.
Thanks, so the creditor’s control account will never match the creditors aging balance while there are prepayments in the system?
John
That’s correct. The report itself shows aged debt. The prepayments are only in this report as a handy reference.
This topic was automatically closed after 3 days. New replies are no longer allowed.