A creditor is an entity person or institution that extends credit to another entity which credit or money intended is to be repaid in the future. A business that provides supplies or services to a company or individual and does not demand immediate payment is also considered a creditor, based on the fact that the client owes the business money for services already rendered. A creditor could be a bank, supplier or person that has provided money, goods, or services to a company and expects to be paid at a later date.
In Loan Performer, the creditors balances report displays the creditor's balances as at a particular reporting date.
How to view the Creditors Balances Report
To view the creditors balances report you go to Accounts ->Creditor Reports->Creditors Balances Report and a screen will be displayed as follows:
From Cost Centre: From the drop down box, select the Cost centre from which to generate Debtors Balances Report and in the till Cost centre, enter the date on which the report will stop. When the Check for all options is selected, then Breakdown per Accounts report will be generated for all cost centres.
Select any other required additional options or use the default selections. For additional information on these options you can refer to Accounting Report Formats.
Click on the OK button to view the report which will look similar to the following:
Click on the Close button to exit the menu.
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