Configure Aging Balance Settings

Configure Invoice Settings

The Include negative invoices in Aging Bucket balances setting is used to configure invoice settings. By default, this check box is selected.

With the Include negative invoices in Aging Bucket balances check box selected:

• The Invoice Aging detail report includes all detailed negative invoice transactions. 
• No Total Negative Invoice Balance amount is displayed in the Balance tab in the Accounts Receivable Aging summary. 
• The following fields are not displayed in the Account Aging Report:
  • Negative Invoice Balance
  • Negative Invoice Balance (Home Currency)
• Canceled accounts that have a non-zero invoice balance or credit balance as of the accounting period end date are included in the Account Aging detail report.

If you clear this check box, the following changes apply:

• No detailed negative invoice transactions will be included in the Invoice Aging detail report. 
• The Total Negative Invoice Balance field will be displayed in the Balances tab in the Accounts Receivable Aging summary.
• The following fields will be displayed in the Account Aging Report:
  • Negative Invoice Balance
  • Negative Invoice Balance (Home Currency)
• Canceled accounts that have a non-zero invoice balance, a negative invoice balance, or a credit balance as of the accounting period end date will be included in the Account Aging detail report.

For more information, see Accounts Receivable Aging.

Configure Aging Buckets

Before running a trial balance in Zuora, configure your aging buckets to fit your business needs. You can configure aging buckets based on the length of time an invoice has been past due. Zuora Finance uses these aging buckets to generate Accounting Close Aging Balances information when you run a trial balance.

Zuora Finance trial balances include Accounting Close Aging Balance. This balance lists all invoices with open (positive) balances that are either current or past due as of the end of the current accounting period. The aging balance is as of the last date in the accounting period and lists the balances grouped into aging buckets.

Zuora Finance includes accounts receivable aging balance information as part of your accounting period close process. Accounts receivable aging categorizes your company's accounts receivable into different buckets, based on the length of time an invoice has been past due.

By default, Zuora Finance includes six pre-configured aging buckets. You can change these aging buckets or add new buckets. You can create up to 20 aging buckets, but the time ranges must follow these rules: 

• The bucket ranges must be contiguous.
• You can leave the first bucket's From field empty. This is equivalent to "negative infinity," and includes dates prior to the beginning of the accounting period. For example, if you leave From empty and enter 5 in the To field in the first bucket, the bucket will include all invoices that are up to 5 days past due.
• You can leave the last aging bucket's To field empty. This makes the last aging bucket open-ended. For example, if you leave To empty and enter 121 in the From field in the last bucket, the bucket will include all invoices that are 121 days or more past due.
• You can enter a negative number (as long as the aging bucket ranges are contiguous). For example, entering -5 means "5 days until an invoice is due." To create an aging bucket that collected all invoices that are 5 days until being due, to all invoices due on the current day, specify the range From -5, To 0.

If you change your aging buckets (for example, you originally set it up to go to 90 days, but you want to move it to 120 days), Zuora does not automatically regenerate all of the existing aging reports. You must run a trial balance to regenerate the aging reports, based on the new aging buckets. For closed accounting periods, you must re-open the accounting periods to regenerate the aging reports.

Track setting changes through Audit Trail

To help you meet audit requirements and maintain compliance, Audit Trail supports the capability of tracking changes on the aging balance setting. You can use Data Query to run a report against the auditsettingchangeevent Audit Trail table to retrieve the records.

To retrieve the setting changes records, submit a data query through UI or API with the following SQL query: 

SELECT username      AS UpdatedBy,
       action        AS Action,
       settingtype   AS SettingType,
       attributename AS Attribute,
       oldvalue      AS OldValue,
       newvalue      AS NewValue,
       timestamp     AS Timestamp,
       SettingObjectName
FROM   auditsettingchangeevent
WHERE  namespace <> 'UserManagement'
AND    settingtype = 'AgingBucket'
ORDER  BY timestamp DESC
LIMIT  100000