Age

Owned by John Nairn (Unlicensed)
Last updated: Mar 11, 2019

Overview

Readysell assigns an aging to open items. Age is different to payment terms. Aging stays the same no matter what the payment terms are that apply to a transaction.

Explanation

The ages are current, 30, 60,90, 120 and forward. The age is calculated based on the number of days since the date of the transaction:

  • If a transaction is dated into a future month, it's aging is future
  • If a transaction is dated in the current month, it's aging is current
  • If a transaction is dated in the previous month, it's aging is 30 days
  • If a transaction is date is in  the month two months ago, it's aging is 60 days
  • If a transaction is date is in  the month three months ago, it's aging is 90 days
  • If a transaction is date is in  the month four or more months ago, it's aging is 120 days