To complete this exercise, you must be in the Sample company. From your QBOA account, click on the Gear icon on the top right corner of the screen, then select Sample company.

Note that you will be logged out of your current account. If you are sure, click "Continue" to confirm. 

From the left navigation bar, click "Reports".

In the Favorites section, click "Accounts receivable aging summary".

In the Date field, click the calendar icon, then select the last day of last month.

*Note: your date will be different than what is selected in the screenshot below.*

Here you can see a summary of all outstanding invoices, broken down by customer.

After running the report, Craig took a break to check the mail. He received a check (#0934) from Red Rock Diner for their outstanding $156 invoice. He needs to receive payment for it.

Since the report is still up, he can process this directly from the report.

On the Red Rock Diner line, click "156.00".

To go to the invoice directly, click "1024".

When the invoice appears, click "Receive payment".

When the Receive Payment transaction appears, in the Payment method field, select "Check".

Click the down arrow next to Save and new, then select "Save and close".

Now with the Red Rock Diner payment processed, he wants to see the full summary again.

The summary looks the same, with the $156 invoice showing as outstanding, so Craig decides to run the report again.

QuickBooks

QuickBooks is a widely-used accounting software developed by Intuit, designed to simplify financial management for businesses of all sizes. It provides a user-friendly platform for tasks like invoicing, expense tracking, payroll processing, and generating financial reports. QuickBooks automates many financial processes, making it easier for businesses to monitor their financial health, prepare taxes, and manage cash flow. With its various versions and integrations, QuickBooks caters to the needs of freelancers, small businesses, and larger enterprises, offering a flexible and comprehensive solution for efficient accounting and financial management.

app.qbo.intuit.com

fastandeasyqbo.com

Scenario: Craig likes to track the historical A/R status each month to keep an eye on what is owed to him. He just ran an A/R Aging Summary report for the end of the previous month.

On the same day, after running the report, he receives a check payment (#0934) from Red Rock Diner for an overdue invoice. He processes the check payment, then refreshes the report and sees it's still showing as outstanding on the report. 

What could he be doing wrong?

A.4.7b Current vs. Date of Report