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Creditors Balances Report

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

Note that this report will only display the creditors who have been entered into the system under the menu Accounts/Purchases and Sale/Creditors and transactions conducted under Accounts/Purchases and Sale/Issue Invoices.

Both debtors whose obligations are outstanding and those who have cleared will appear on the Debtors 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:

• Reporting Date: In the date textbox enter the date until which the debtors balances should be reported, e.g., "05/10/2020".
• Debtors Analysis 1/2/3: Loan Performer allows you to view the balances for specific creditor's categories. Choose the analysis category from the drop-down boxes or tick the Check for all checkbox to include all categories in the report.  
• Currency: From the drop down list select the currency in which the report should appear, e.g., "UGX".
• From Branch: Choose the branch code from the drop-down or tick the Check for all checkbox to include all branches.
• From GL account: From the drop down menu, select the account number from which the creditor balances report will start and in the till GL account option, enter the account on which the creditor balances report is to stop or select the Check for all option to include all the GL accounts in the report.

• 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.

• From Creditor:  From the drop down box, select the Creditor from which to generate creditor balances report and in the till creditor centre, enter the date on which the report will stop. When the Check for all options is selected, then creditor balances report will be generated for all creditors.
• Group by: From the drop down menu,choose the order in which you want your report to display. There are three options: by Creditor Name to display the report by name in ascending order or by Creditor code - to display the report by creditor code in alphabetical order or by Creditor's invoice number.

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.

Related Topics

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