Reporting - Show average Days to Pay by customer
Ability to show average days to pay by customer.
Purpose: User can sort into the customer that habitually pay late and take appropriate action.
Hi community, thanks for your interest in this idea. Just wanted to pop in here to share, for those who aren't already aware, that you can export the Receivable Invoice Summary report. The report has a 'Last Payment Date' column that you can add to it which is useful for finding customers who habitually pay late so that you can take appropriate action.
To be transparent, building a feature to show the average days to pay by customer isn't on our roadmap at this time, but we'll be sure to update this idea if that changes in future.
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Katie Stubbs commented
DEFINITELY NEED THIS
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Christine Ashton commented
Want to be able to forecast cash flow based on customers' historical payment patterns rather than due date of invoices.
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Dale Ogden commented
Say I've just been granted the task of paying off bills as per the accounts payable aging summary, but the business has both written and unwritten agreements with some of our creditors regarding the actual pay-by dates that aren't reflected in the invoices.
Some are okay with a 90-day wait, some need it by the end of the week, and since a lot of them use the standard 20th-of-next-month script on their invoices (Or, more bewilderingly, the same date that the invoice was issued) it's a bit tricky for someone fresh to the role to keep up.
Which leads to my question: The supplier page gives a good indicator as to when to pay (See attached), is there a way to place that onto the aging summary for each of the suppliers? Perhaps in a separate column?
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Charles Hewitt commented
We like to understand how effective the different stage of our account receivable process is, to do this we need to know the proportion of invoices that are paid at each stage:
Average proportion paying within a range of days for a given reporting period ie 35% < 5 days, 30% 6-30 days, 15% 31-60 days, 10% > 60 days etc