Age

Owned by John Nairn
Last updated: Mar 11, 2019
1 min read

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