AR as of Report reconstructs customer balances back to any date specified. This is not an accounting report as much as it is a historical point in time for customer balances on a certain date. This presence of this report minimizes the need to get all of one months transaction entered before starting the next because it can be run at any time. The report will remove all invoices from the current Accounts Receivable list that were not created by that date. It will also un apply payments made to invoices after the date you enter.