Talk:Report: Collection Summary

Collection Summary vs. Client Aged Receivables?

What is the difference between the Collection Summary and the Client Aged Receivables reports?

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Answer

The Collection Summary is a very brief report designed to be used in calling customers for collections. The information it presents is very similar to what is on the Aged Receivable Summary, and the difference is in handling how older balances are shown.

The Aged Receivables displays items when they occurred; the Collection Summary is presenting balances as current as possible to help with basic client's questions such as:

"But I sent you a check on March 12th, why is there a balance in April?"

For example:

An invoice effective 95 days prior to the aging date. 
A payment effective 75 days prior to aging date.

The Aged Receivables includes a number in each age column. The Collection summary will add older balances together and display a sum of the balances in as recent a column as possible.