Historical Balances in Credit Management

Historical Balances In Credit Management allows the user to keep month by month A/R history. If patronage is in use and accumulation is done for the same time period as creation of historical balances, then the user is able to view volume totals in Credit Management that would usually only be seen in through the patronage program or in reports.

Setup for Historical Balances In Credit Management

Aging Creates the Historical Balances -The Historical balances with the aging and finance charge function. Answer 'Yes' to Create Finance Charges/Historical Balances/Interest Credits.
Beginning and Ending Date input Fields -The historical balances that are created need to cover a period of time. If you use a beginning date of 17-Jul-97 and ending date of 18-Jul-97, it will create a historical balance record that only covers one day. If using credit management, then use dates that cover the accounting billing period. For example, 19/06/97 to 18/07/97. Then the next month, the dates would be 19/07/97 to 18/08/97. This will cover all the statement billing period and produce a balance record that is accurate to match the statement.
Update Historical Balances -Then answer 'Yes' to Update historical balances? This will create balances in the history file. These balances are based on the ending date of the period (the ending date when aging). Re-use an ending date and you will overwrite existing aging.
Accumulating Patronage creates the final part of the Historical Balance Record. It is, therefore, advantageous to accumulate patronage using the same date ranges used for historical balances. If a user chooses to accumulate based on a yearly basis, then the patronage accumulation will appear when the ending date of the patronage is within range of the historical balance.

Viewing Historical Balances in Credit Management

Navigate to AGRIS > ACR > Credit Manager > Key customer number.

Select Location Total or All Totals > 13) Balance history

Drill into the dated captures of their AR Balance

Answer NO to Edit Record > If there is patronage accumulation for that Period date range, it will display.