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Vendor Aging Report

The Vendor Aging Report in Fiskl provides a comprehensive view of your accounts payable, allowing you to track outstanding bills over time. This powerful tool helps you monitor your payment obligations, manage cash flow, and maintain healthy relationships with your suppliers.

Why is the Vendor Aging Report important?

The Vendor Aging Report is crucial because it:

  • Offers a clear snapshot of outstanding bills and payment obligations
  • Helps identify upcoming due dates and prioritize payments
  • Supports better cash flow management and forecasting
  • Aids in maintaining good relationships with suppliers
  • Provides insights for negotiating payment terms

Key Features of the Vendor Aging Report​

Fiskl's Vendor 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 bills
  4. Vendor-specific or overall view: Generate the report for specific vendors or all vendors
  5. Summary and detailed versions: Choose between a high-level summary or a detailed breakdown of bills and AP transactions
  6. Number simplification option: Divide amounts by 1000 for easier reading of large numbers

Generating a Vendor Aging Report in Fiskl​

To create and customize your Vendor Aging Report:

  1. Navigate to Accounting > Reports from the left menu
  2. Select "Vendor 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 vendors 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 payable:

  • Vendor: Name of the vendor
  • 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 vendor

Detailed View​

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

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

Interpreting the Vendor Aging Report​

To effectively use the Vendor Aging Report:

  1. Identify payment priorities: Focus on bills coming due soon or those already overdue
  2. Manage cash flow: Use the report to plan for upcoming payment obligations
  3. Spot potential issues: Look for any unusually old outstanding bills that may need attention
  4. Assess vendor relationships: Use the report to identify vendors with whom you might need to negotiate better terms
  5. Optimize payment timing: Balance early payment discounts against cash flow needs
tip

Regularly reviewing your Vendor Aging Report can help you maintain good relationships with suppliers, avoid late payment fees, and optimize your cash flow management.

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 planning, monthly for longer-term analysis)
  2. Number of buckets: Increase for more granular aging information or decrease for a simpler overview
  3. Vendor selection: Focus on specific vendors 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 bills.

Exporting Your Vendor 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 Vendor Aging Report​

  1. Regular review: Set a schedule to review this report weekly or monthly
  2. Prioritize payments: Use the report to guide timely payments and avoid late fees
  3. Customize for your business: Adjust aging buckets to align with your typical payment terms and cash flow cycle
  4. Compare over time: Track how your payables profile changes month-to-month or year-to-year
  5. Use with other reports: Combine insights from the Vendor Aging Report with cash flow forecasts and other financial reports for comprehensive financial management

By effectively utilizing the Vendor Aging Report in Fiskl, you can maintain better control over your accounts payable, improve cash flow management, and make informed decisions about your payment strategies and vendor relationships.