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Client Aging Report

The Client Aging Report in Fiskl provides a comprehensive view of your accounts receivable, allowing you to track outstanding customer invoices over time. This powerful tool helps you monitor your cash flow, identify potential collection issues, and maintain healthy customer relationships.

Why is the Client Aging Report important?

The Client Aging Report is crucial because it:

  • Offers a clear snapshot of outstanding customer invoices
  • Helps identify slow-paying customers or potential bad debts
  • Supports better cash flow management and forecasting
  • Aids in prioritizing collection efforts
  • Provides insights for credit policy decisions

Key Features of the Client Aging Report​

Fiskl's Client Aging Report offers several customizable features to meet your specific needs:

  1. Flexible date selection: Choose your preferred date range for analysis
  2. Customizable bucket grouping: Group aging periods by day, week, month, or quarter
  3. Adjustable number of buckets: Set the number of aging periods, with the last bucket capturing all older invoices
  4. Client-specific or overall view: Generate the report for specific clients or all clients
  5. Summary and detailed versions: Choose between a high-level summary or a detailed breakdown of invoices and AR transactions
  6. Number simplification option: Divide amounts by 1000 for easier reading of large numbers

Generating a Client Aging Report in Fiskl​

To create and customize your Client Aging Report:

  1. Navigate to Accounting > Reports from the left menu
  2. Select "Client Aging Report"
  3. Use the provided options to customize your report:
    • Set your desired date range
    • Choose the bucket grouping (day, week, month, or quarter)
    • Select the number of aging buckets
    • Decide whether to include all clients or specific ones
    • Toggle between summary and detailed views
    • Option to divide large numbers by 1000

Understanding the Report​

Summary View​

The summary view provides a high-level overview of your accounts receivable:

  • Client: Name of the client
  • Current: Amount due within the current period
  • Aging Buckets: Amounts due within each aging period (e.g., 1-30 days, 31-60 days, etc.)
  • Older: Amount due beyond the last specified aging bucket
  • Total: Total outstanding amount for each client

Detailed View​

The detailed view offers an in-depth look at each outstanding invoice:

  • Client: Name of the client
  • Invoice Number: Unique identifier for each invoice
  • Invoice Date: Date the invoice was issued
  • Due Date: Date payment is due
  • Original Amount: Total amount of the invoice
  • Remaining Amount: Amount still outstanding
  • Current and Aging Buckets: Breakdown of the remaining amount across aging periods

Interpreting the Client Aging Report​

To effectively use the Client Aging Report:

  1. Identify payment trends: Look for patterns in how quickly different clients pay their invoices
  2. Spot potential issues: Pay attention to invoices that have moved into older aging buckets
  3. Prioritize collection efforts: Focus on larger amounts and older invoices first
  4. Assess credit policies: Use the report to inform decisions about credit limits and terms for specific clients
  5. Project cash flow: Use the aging information to forecast when you're likely to receive payments
tip

Regularly reviewing your Client Aging Report can help you maintain a healthy cash flow and identify potential collection issues before they become significant problems.

Customizing Report Display​

Fiskl allows you to tailor the report display to your needs:

  1. Bucket grouping: Adjust the time periods for aging buckets (e.g., weekly for short-term analysis, monthly for longer-term trends)
  2. Number of buckets: Increase for more granular aging information or decrease for a simpler overview
  3. Client selection: Focus on specific clients for targeted analysis or review all for a comprehensive overview
  4. Summary vs. Detailed: Switch between views depending on the level of detail required
note

The "Older" bucket automatically captures all amounts due beyond your specified aging periods, ensuring you don't miss any long-outstanding invoices.

Exporting Your Client Aging Report​

To share or further analyze your report:

  1. Click the export button at the top right of the screen
  2. Choose between Google Sheets or Excel format
tip

Exporting to a spreadsheet allows for additional customization and analysis, such as creating charts or combining with other financial data.

Best Practices for Using the Client Aging Report​

  1. Regular review: Set a schedule to review this report weekly or monthly
  2. Follow up promptly: Use the report to guide timely follow-ups on overdue invoices
  3. Customize for your business: Adjust aging buckets to align with your payment terms and industry standards
  4. Compare over time: Track how your aging profile changes month-to-month or year-to-year
  5. Use with other reports: Combine insights from the Client Aging Report with other financial reports for a comprehensive view of your business's financial health

By effectively utilizing the Client Aging Report in Fiskl, you can maintain better control over your accounts receivable, improve cash flow management, and make informed decisions about your credit policies and collection strategies.