There was a fantastic report called Open Item Report which allowed you to select a period for charges, credits and payments (each period could be selected individually) and the result would be an outstanding balance as of a specific date using specific charges/credits.

The report would be in a user friendly readable form breaking down the charges, payments, credits and showing the outstanding balance so that one could clearly see an abundance of information.

We need this type of report as the current lists and aged receivables does not function as effectively. This was a must at our workplace as we used the information for audits and tuition tax receipts.