The ageing process works on customer terms, then in 30 day blocks. For example, if an invoice is due at the end of the month it will appear in the current column of the statement at the end of that month. From 1 to 30 days after the end of that month the invoice will appear in the 1-30 day (overdue) column, 31-60 days after the due date it will sit in the 31-60 day column, and so on. This is all very neat and tidy (and always accurate) for those who work on a 30 day system, but for others who require month by month, in other words calendar month end rather than 30 days, this system requires some fine-tuning.

If the Customer terms are payment to be made by 20th of the following month then Monthly ageing will not provide the required results as the system will always look at the MONTH that the invoice is due for payment as being the current period. By following the instructions below, ageing in calendar month blocks can be achieved.

Our page Default credit terms and applying discounts may also be useful

To ensure that all new customers have this setting, first change the Default Customer Terms in AccountEdge.

To change default customer terms
  1. Go to the Setup menu and choose Preferences.
  2. Click the Sales tab.
  3. Click the Terms button. Set up the default terms as shown in the example below:
To change the terms of the current cards in your card file
  1. Go to the Card File command centre and click Cards List.
  2. Open the applicable card and click the Selling Details tab.
  3. Change the Payment is Due to Day of Month after EOM.
  4. You can set the Discount Days to 1st.
  5. Change Balance Due Date to 2nd.
  6. Click OK.
  7. Repeat this process for each customer.
To set invoice terms

If you have outstanding sales that were entered while the terms were incorrect, you will need to change the terms on the invoices as well, because changing the terms in the cards will not change these sales.

The option to reverse transactions will need to be de-selected. 
  1. Go to the Sales command centre and click Sales Register.
  2. Click the Open Invoices tab.
  3. Select the relevant date range then click on the arrow to display the first invoice.
  4. Click the Terms arrow at the top of the invoice, and change the terms as described above.
Notes about monthly ageing
  • The 2nd day after the End of Month is selected to overcome the default 30 day ageing in MYOB. If the 1st was selected, in months like December and January that both have 31 days, sales made in December would move into the next column on the 30th of January instead of the 31st.
  • Ensure when viewing the Aged Receivables report, the Receivables Reconciliation report or using the Receivables Button in the MYOB Analyst that you FILTER the ageing method to "Calculate Days Overdue using Customer Terms' (This is the ageing method Statements use), as these screens default to "Calculate number of days since Invoice date". The Filter button is found at the bottom left of each of these screens.
  • If Activity statements are used, no transactions dated after the system date will be listed, although invoices and payments entered after the system date will be reflected in the Balance Forward figure and in the ageing of the Statement. Invoice statements will show ALL Invoices outstanding, with any transactions later than the system date being included in the Current total.