I frequently get asked “Why is there a separate step to age Microsoft Dynamics GP Accounts Receivable?”
Believe it or not, it’s actually a benefit to you.
I have a client who charges their customer a finance charge for all invoices 30 days or older; however experience tells them that many times they charge finance charges, only to receive the payment within a day or two causing them the extra work of writing off the finance charge.
We worked together and created a very smart plan. We change the aging periods from 1-30 to 1-45, then age and charge finance charges for invoices over 45 days old. We then change the aging period back to 1-30 and age again. This method, only ended up charging finance charges for invoices over 45 (even though their customer is expecting over 30)days old.
There are many reasons you may want or need control over aging, and with GP you have it!