Aged Trial Balance versus Open Invoice Reports – what’s the difference? (O/T)

The Aged Trial Balance ages the invoices that fall within the date ranges you specify and allows you to go back to certain periods in time. This is especially handy when reconciling invoices for the prior year a few months into the next year against the Accounts Receivable account in the General Ledger. It will even show those invoices that have subsequently been paid since the period or date that you are running the ATB for, providing the paid invoices haven’t been purged yet.

In Accounts Payable and Accounts Receivable, the Open Invoice Report for all unpaid invoices lists all Invoices that are due before the date that you request. It does not age these invoices into the 30-60-90 day aging ‘buckets’. When run for all unpaid invoices with a date far in the future, this report will list all invoices owed regardless of incorrect dates.

In summary use the Open Invoice Report to look at where you are today and the Aged Trial balance for either where you are today or where you were.