The Outstanding Balances widget on your dashboard aggregates all currently outstanding invoices, providing a snapshot of overdue payments categorized by the age of each invoice. This tool is essential for monitoring your accounts receivable and improving cash flow management.
How It Works
Outstanding Balances: This widget sums up all outstanding invoices and categorizes them into three groups: "Under 30 Days," "30 to 60 Days," and "Over 60 Days," with a total sum also displayed for quick reference.
Active Filters: Only active companies, buildings, and units are included in the calculations. If no specific building or unit filters are applied, the widget also includes siteless transactions, ensuring a comprehensive view of all receivables.
Timeframe and Outstanding Status: The timeframe set by the user determines which invoices are included in the calculations. However, the status of being outstanding is always based on whether they are currently unpaid, not on when they were issued.
Why It Matters
Understanding the distribution of unpaid invoices by their overdue periods helps prioritize debt collection efforts and assess financial risk. The Outstanding Balances widget is a great tool for financial oversight, helping ensure that cash flow remains steady and that financial planning is based on up-to-date receivable insights.