AP Report shows all unpaid bills in the accounts payable. In NetSuite, the A/P Aging report shows the amount owed to vendors for the current billing period and what is still owed from previous billing periods.
There may be discrepancies in A/P Aging Report against the amount reflect in balance sheet/ trial balance. Discrepancies between the Report amounts may be due to the Report by Period preference when the company allows entering transactions outside the Posting Period. A/P and A/R Aging reports not considers as a financial report.
We can choose to age bills and invoices by due dates or transaction dates by navigating to Accounting Preference.
Set up > Accounting > Set up Accounting
In the General subtab, select Transaction date or Due date.
Click Save.
A/P Aging Summary Report
Go to Reports > Vendors/Payables > A/P Aging Summary report.
Scenario:
Bill is recorded correctly with the total value of RWF 533663.839.A/P Aging Report shows the amount of RWF 678385.659. The due date and Posting Period are 10/6/2019 and August 2019 respectively. And its applied journal is missing in the A/P Report.
Solution and clarification:
In the Report the bill amount (RWF 533663.839) is recorded correctly till Oct 2019 after October the bill amount changed to RWF 678385.659. The reason for that is in October they applied payment through journal and currency revaluation in the bill. So, the Report automatically shows the amount i.e., original amount minus total amount of payment (533663.839- 4658248.18= 675415.659).
The reason for why the applied journal is not shown in the Report because the report is automatically combining the value in a single record. So there is no need of Journal and currency revaluation transaction after the bill payment.
Bill
A/P Report ( before Payement/ applied journal and currency revaluation)
Bill Payment
AP Aging Report ( after Oct 2019/ after bill payment)
