The Receivables-Payables window appears when, from the Chart of Accounts, you click Account and then Receivables-Payables. The window shows a scrollable summary of receivables and payables.
The Period column on the left contains a series of dates that are determined by the time interval you have selected. You change the time interval by clicking on the buttons in the lower left-hand corner of the window: 1 (day), 7 (week), 31 (month), 3 (quarter), 12 (year) and 3 horizontal lines (accounting period). Accounting periods are set up in the Accounting Period table.
When you scroll up and down, the program calculates the amounts according to the selected time interval.
The columns display the following calculations:
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Customer Balances Due |
This field shows the amount that is due for payment from all customers in the period shown in the Period column. |
|
Vendor Balances Due |
This field shows the amount that is due for payment to all vendors in the period shown in the Period column. |
|
Receivables-Payables |
The difference between the amounts in the Customer Balance Due column and the Vendor Balance Due column. The column thus shows a cumulative total at the close of the period shown in the left column. |
The program calculates the amounts of receivables and payables as the sum of open customer and vendor entries, respectively.
The Receivables-Payables column contains only expected payments from customers and to vendors. It does not include other transactions that affect liquidity or the liquid balance at the beginning of the period. Therefore, the amounts in the column do not represent the liquid balance at the close of the period.