What is payables/receivables aging report in SAP FI-LC - Consolidation?

SAP Term: payables/receivables aging report

• Component: FI-LC

• Component Name: Consolidation

• Description: A report that shows payables and receivables arranged by the age of the open balances. German trade law requires the Payables Aging Report in the notes to financial statements.

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• Key Concepts: 
  A payables/receivables aging report is a financial report used to track the amount of time it takes for customers to pay their invoices. It is a component of the FI-LC Consolidation module in SAP, which is used to consolidate financial data from multiple sources. The report shows the total amount of money owed by customers, broken down into categories based on how long it has been since the invoice was issued. 
  
  How to use it: 
  The payables/receivables aging report can be accessed through the FI-LC Consolidation module in SAP. Once in the module, select the “Reports” tab and then select “Payables/Receivables Aging Report”. This will open up a window where you can enter the parameters for your report, such as the date range and customer information. Once you have entered all of the necessary information, click “Run” to generate the report. 
  
  Tips & Tricks: 
  When running a payables/receivables aging report, it is important to make sure that all of the necessary information is entered correctly. This includes entering the correct date range and customer information. Additionally, it is important to make sure that all invoices are accounted for in the report, as this will ensure that all payments are tracked accurately. 
  
  Related Information: 
  The payables/receivables aging report is just one component of the FI-LC Consolidation module in SAP. Other components include cash flow analysis, budgeting and forecasting, and financial statement consolidation. Additionally, there are other reports available in SAP that can be used to track customer payments, such as accounts receivable reports and accounts payable reports.