On the last day of each month we generate two reports: Products Sold Summary – By Product Past Due Accounts with days set to 0 We use the two reports to for entry into our company accounting package. First assumptions that the Products Sold Summary – By Product only give us the product we sold for the time period that we indicate on the report based on the invoice creation date and is for current customers only. Second assumptions is, that the Past Due Accounts report with days set to 0, is the total amount of account receivable for current customers only and does not include canceled or pending accounts. Are these assumptions correct?
They are all correct, except that the past due accounts report can include non-Current customers (if someone owes you money, it doesn't matter if they are canceled or not).