Customers ask us all the time if they can model receivable in a way that accommodates multiple customers with different payment terms. There are two ways this can be done, the method you chose depends on your financial statement preferences.
Created multiple Revenue & Receivable accounts, one for each customer.
Once these accounts are set up on the Income Statement and Balance Sheet, forecast each customers receivable account using the "Average Days to Collect" Method, linking it to that customers revenue account. Repeat this for each customer, entering in the appropriate payment terms in the "Average days to collect" field.
If you only want to maintain one sales and receivable account on your financial statements Option 2 will allow you to accomplish the same thing using the Non-Financial Data tab. Option 1 is a much simpler way to achieve this goal, however option 2 is just as effective and should only take a few more minutes to setup.
To see Option 2 in action save the attached analysis files into your PlanGuru data file path. If you don't know where to save these files so that you can use them, read this knowledge base post, it will explain everything you need to know. https://planguru.zendesk.com/entries/20311236-locating-sending-and-receiving-planguru-2011-data-files
You may also want to read this knowledge base post which explains our "Modeling Samples" articles before you begin : https://planguru.zendesk.com/entries/20324908-about-our-modeling-samples
Once you have the attached analysis open, start off on the Balance sheet, more specifically the "Accounts Receivable" category. Notice that we are using the "Function of a Non-Financial Item" to calculate our receivable balance. Before digging in any further divert your attention to the Non-Financial data tab. Once there you'll see that were using the Non-Financial data tab to calculate both sales & receivables by customer, then linking these amounts up to the financial statements.
Receivables are calculated as follows. Average days to collect can be expressed as a number of days, say 15, or by saying we expect to collect 1/2 of this month's sales in the current month, and the remaining half of this months sales next month.
We're using the "Formula" forecast method to calculate cash collected on receivables for each customer, this is the key calculation.
Then we are calculating a change in receivables by taking Current month revenue for each customer, and subtracting out the cash collected per customer for that month.
Follow through the logic by opening each commented row.