Aging and Statements

As invoices are sent to the customers and you await payment for those invoices, the balances on those invoices age until they are paid. The age of an invoice balance is determined by the number of days since it was required to be paid based on the payment terms for the customer and the invoice date. Parts of the overall balance fall into “buckets” based on their age. 

These buckets are:

• Current
• 1-30
• 31-60
• 61-90
• 91+

For example, if the invoice terms for a property require payment within 15 days, then outstanding balances on invoices dated within the most recent 15 days are in the current bucket. Invoices dated within the last 16 to 45 days are in the 1-30 bucket, etc. If invoices remain unpaid, their balances move through the aging buckets as time passes. 

Credits that have not yet been applied to invoices also age until they are applied to an invoice.

Aspire supports the creation of customer statements that summarize the unpaid invoice balances and credits for each property. Statements are generated from the Print Statement option in the Bulk Actions menu of the Receivables Search List screen