The Aging balance is available in Mews Operations within Mews Analytics. It gives you an overview of all open invoices in your enterprise, categorized by their ages, i.e., the time interval since their issue date. You need to enable “Receivable tracking” to use the Aging balance. You can learn how to enable this here. The Open invoices tab, earlier available in Financial analytics for management of unpaid bills, is now available in the Aging balance. This is to simplify prioritization by age, and number, of open invoices. 

You can use the Aging balance to: 

• Manage your debt by identifying and tracking unpaid and overdue invoices, by their due date. 
• Monitor overdue payments and recognize probable cases of bad debt. 
• Check the “Aging balance” status at any point in the past or future. 
• Export data on open invoices and debt for your financial records.  
• Easily compare company credit limits. 

To access the Aging balance, you need:  

• an Enterprise subscription to Mews OR   
• to purchase Mews Analytics as an add-on.   

Note: Enterprise clients can only use Mews Analytics after they enable the integration for each of their properties in the chain. You can learn more about Mews Analytics here, and how to use it here. 
 

To access the Aging balance, in Mews Operations, go to the main menu   > Analytics > Aging balance. 
 

 

This article gives you a detailed description of all the features, filters, and data available on the Aging balance dashboard and how best you can use them.  
 

In this article, you can learn the following about the Aging balance:  

• Data sources and parameters
• Main data section
• Aging report
• Open Invoices
• Using the Aging balance
  • Filters
  • Data table options
• Data export

 

Data sources and parameters 

The dashboard data represents the total history of all unpaid invoices within your property or enterprise. The dashboard displays data per registered property in Mews for multi-property enterprises. Note: Paid invoices display for the current and previous year only.  

The system loads data into the dashboard every 12 hours, and data is usually between 8 - 12 hours old. Updated data is available every day at 9:00 UTC and at 21:00 UTC.  Note: The exact time might vary based on the amount of data contained in the update. 

Data parameters:
 

• Version: Displays the latest version of the report. 
• Last Refresh: UTC timestamp of the last dashboard refresh. 
• Latest Records: UTC timestamp of the last update of data in the dashboard. The dashboard does not reflect any changes in Mews made after this time. 
• Currency: Local currency, as per the dashboard selection.  
• Exchange Rate: Date here is the last valid exchange rate used to calculate the displayed metrics. Note: The dashboard recalculates all figures in the selected currency, based on actual exchange rates. 

 

Main data section 

• Total amount: Total amount that you owe, calculated from all open invoices of your enterprise, from all your properties with access to Mews Analytics. 
• Selected amount: Total amount you owe from selected open invoices, calculated based on your filter selection or selected invoices in the Aging periods by enterprise chart. 
• Percentage of total: Calculated percentage of selected invoices versus total amount of invoices. 
• Open invoices/ Bills open: Total number of open invoices/ bills, based on filter or chart selections. 
• Aging factor: The weighted average of overdue days ordered by invoice amount. 

 

Aging report  

 

• Enterprise and Date selected: You can search for and select specific enterprises to filter the data using the Enterprise drop-down menu. The Date selected field displays the date that you select to filter open invoices. The data displays invoices based on their Date created and Date paid. 
• Aging periods in total: This section displays all open invoices, organized by aging period. Use the slider bar to zoom in for more detail. Within each aging period, the dashboard breaks down the total amount by account type: Customer, Customer via company, and Customer via travel agency. 
• Aging periods by enterprise: This section creates a high-level overview of your enterprises, displaying the total number of open invoices, organized by different age categories. You can also view the row and column subtotal, per age category and enterprise. 
• Open invoices by selected dimensions: This table gives you a detailed overview of your overdue balance. You can: 
  • Identify companies, or customers, that owe the most money, or  
  • Identify individual bills to target and close.

• Payment term:  
  • Payment term days (max.): The maximum payment term of the invoices in the table. 
• Overdue:  
  • Overdue %: The percentage of the overdue invoice amount, and 
  • Overdue days (avg.): The average number of overdue days of the overdue invoices. 
• Open invoices: Number of open invoices. 
• Paid invoices: Number of paid invoices. 
• Days to pay (avg.): Average number of days to pay invoices. 

• Select dimensions: Your selection in the Select dimensions panel determines the data in the Open invoices by selected dimensions table. You can choose the level of detail of the data display, by selecting the combination of dimensions. Based on your selection of all dimensions, you can either go into details of the data or go to the next level in the data hierarchy, for example, from Account type all the way to Bill with bill number.

• The order in which you select the dimensions determines the order and manner of the data display in the table.  
• If you unselect some of the dimensions, it simplifies the table. You can get more information about using Power BI data hierarchy for data analysis here.   

 

Open invoices

The Open invoices tab provides you with: 

• An overview of credit limits and open invoice data, and  
• Let's you edit the original bill by directing you back to Mews via URL. 

To access the original bill, click on the URL link on the left. You can access and edit the original bill in Mews from this specific URL. The bill opens in a new tab, letting you review, edit and update details directly. You can learn more about this here. Note: The system does not immediately update any changes to the original bill. Make sure to refresh the data before you use the updated Open invoices data.  

• Number of companies with open invoices: This section displays the number of companies with open invoices, divided into companies with credit limits set in their Mews profile, and companies without credit limits. You can learn more information on setting credit limits here.  
• Companies with credit limits and open invoices: This table displays company credit limits in more detail, organized by number of open invoices, total amount owed and credit limit set. You can easily compare credit limits, identify companies that owe the most money and those who have exceeded their credit limit. You can also view the total of each column. 
• Sum of the difference between the open invoice amount and credit limit on companies: This section displays the sum of the difference between open invoice amount and company credit limit, divided into companies exceeding their credit limit and those under their credit limit.  
• Open invoices: This table displays all open invoices in your property or enterprise in greater detail, providing an overview of each invoice.  

Note:  

• You can only access bills of the property you are logged in to using the specific URL link.  
• For enterprise clients, to access a bill in another property, you need to first log in to that specific property.  
• You can organize the table by property name for easier view of invoices per property.  
• Changes to the original bill do not populate automatically. You need to refresh the data before you can see the edits.  

 

Using the Aging balance 

You can use the data in the Aging balance alongside Financial analytics, to keep track of debts and credit limits. The enhanced Open invoices tab in the Aging balance makes it easy to manage open invoice data. It was previously located in Financial analytics. All Mews Analytics dashboards operate using Power BI. You can learn more about this in the using Mews Analytics article here. 

You can refine data in the Aging balance with the following options: 

Filters  

• Filters on this page: 
  • Credit limit exceeded: Filter by customers with exceeded credit limit. 
  • Invoice date created: Filter by invoice creation date. 
• Filters on all pages: 
  • Relative date: This filter allows you to check the status of all open invoices on a specific date, in the past, present or future. The default setting is the current date. Selecting a date in the past shows the Aging Balance status on that date.  

• you cannot view invoices with: 
  • Invoice issue date after the selected date.  
  • Invoice paid date before the selected date. 
• you can view invoices with:
  • Invoice paid date after the selected date, as the system considers it still open on that date. 

• Aging period: The number of days the invoice is overdue. 
• Chain: Filter by one or more preferred chains. 
• Currency: Changing the currency recalculates the metrics, based on current exchange rates. 
• Account Type: Filter by type of customer origin. For example: Company, Customer, Customer via company, Customer via travel agency, Travel agency. 
• Customer Name: You can search for one or more specific customers. 

You can get more information about using Power BI, i.e. Business Intelligence filters here. You can learn more about using Mews Analytics here. 
 

Data table options 

There are further options in each data section that you can use to refine the data. For more options, hover over the relevant section until the following options appear: 
 

• Filters on Visual: This shows which filters and slicers are affecting the visual   .

• Focus mode: This makes your table selection full screen, to reduce distractions   .

• More options: This displays more optional actions  >  .

 

Data export 

You can export the data from different sections of the dashboard to Excel, to easily view your Aging balance data according to your filter selection.

To export data from each section: 

1. Hover over the relevant data section. 

2. Click on More options   > Export data. 

3. Select the data type and format, i.e., summarized data in .csv. 

4. The system exports data in your selected format. 

Note: Power BI limits data exports to 150,000 rows for XLS, and 30,000 for CSV files. 

 

You can learn more about using Mews Analytics here, and more about Financial analytics here.