Age Analysis Customisation

Statey’s 30-60-90-day age analysis just got smarter. You can now customise the aging methodology you’d like Statey to apply.

So what exactly do we mean by ‘aging methodology’? Well, when the age analysis (30, 60, 90 day amounts due) is calculated, you may want to do that calculation based on different parameters. Would you like to age your customers’ invoices by invoice date? Or due date? Do you want the age of the invoice to be counted by the exact number of days passed, or do you want it grouped by calendar month?

Statey lets you combine these different options, with 4 different configurations to choose from:

1. Invoice date & calendar month
2. Invoice date & exact days
3. Due date & calendar month
4. Due date & exact days

Lets take a look at each of these in a bit more detail.

Invoice date & calendar month (Recommended)

Invoices will be aged on the day the invoice was raised in Xero (the ‘invoice date’), with invoices bucketed by the calendar month they fall into.

EG: An invoice raised on the 15th of March will appear as having aged 2 months on the 1st of May. The invoice is showing as aged 2 months, even though it was raised 45 days ago:

Notice that the titles of each age ‘bucket’ are ‘months’. This is because we’re aging by calendar months not days. It would be inaccurate to label the above invoice as aged ‘60 days’.

Invoice date & exact days

Invoices will be aged on the day the invoice was raised in Xero (the ‘invoice’), with invoices bucketed by the exact number of days that have passed since it was raised.

EG: An invoice raised on the 15th of March will appear as having 30 days on the 1st of May, since it was raised 45 days ago:

Due date & calendar month

Invoices will be aged on the day the invoice is due, as configured in Xero (the ‘due date’), with invoices bucketed by the calendar month they fall into.

EG: An invoice raised on the 1st of Jan, but due on the 15th of April will appear as having aged a whole month on the 1st of May, even tho it was due 16 days ago:

Notice that the titles of each age ‘bucket’ are ‘months’. This is because we’re aging by calendar months not days. It would be inaccurate to label the above invoice as aged ‘30 days’.

Due date & exact days

Invoices will be aged on the day the invoice is due, as configured in Xero (the ‘due date’), with invoices bucketed by the exact number of days that have passed since it was due.

EG: An invoice raised on the 1st of Jan, but due on the 15th of April will appear as having aged 15 days (aka ‘current’) on the 1st of May.

In Summary

Statey lets you decide how you’d like to age your invoices. The options are listed in Statey in order of how ‘aggressively’ they age your customer invoices. Pick the one that best fits the arrangements you’ve established with your customers:

❤️️   Team Statey