diff --git a/erpnext/accounts/report/accounts_receivable/accounts_receivable.py b/erpnext/accounts/report/accounts_receivable/accounts_receivable.py
index 836ebc326922638d45e9dc06d0897ad393de96d0..9f69ac97297b59943930d1b2a5e24fa587d96648 100644
--- a/erpnext/accounts/report/accounts_receivable/accounts_receivable.py
+++ b/erpnext/accounts/report/accounts_receivable/accounts_receivable.py
@@ -671,7 +671,7 @@ class ReceivablePayableReport(object):
 			else:
 				future_amount_field = "future_amount_in_base_currency"
 
-			if row.remaining_balance > 0 and future.get(future_amount_field):
+			if row.remaining_balance != 0 and future.get(future_amount_field):
 				if future.get(future_amount_field) > row.outstanding:
 					row.future_amount = row.outstanding
 					future[future_amount_field] = future.get(future_amount_field) - row.outstanding
diff --git a/erpnext/accounts/report/accounts_receivable/test_accounts_receivable.py b/erpnext/accounts/report/accounts_receivable/test_accounts_receivable.py
index 58187cc003ca6315263664c1c9cd200face4bf5c..7a0a035b32f6fd388108cba9c8bac2726a7a3c4b 100644
--- a/erpnext/accounts/report/accounts_receivable/test_accounts_receivable.py
+++ b/erpnext/accounts/report/accounts_receivable/test_accounts_receivable.py
@@ -169,6 +169,82 @@ class TestAccountsReceivable(AccountsTestMixin, FrappeTestCase):
 			],
 		)
 
+		def test_cr_note_flag_to_update_self(self):
+			filters = {
+				"company": self.company,
+				"report_date": today(),
+				"range1": 30,
+				"range2": 60,
+				"range3": 90,
+				"range4": 120,
+				"show_remarks": True,
+			}
+
+			# check invoice grand total and invoiced column's value for 3 payment terms
+			si = self.create_sales_invoice(no_payment_schedule=True, do_not_submit=True)
+			si.set_posting_time = True
+			si.posting_date = add_days(today(), -1)
+			si.save().submit()
+
+			report = execute(filters)
+
+			expected_data = [100, 100, f"Sales Invoice: {si.name} / Customer: {si.customer}"]  # @dokos
+
+			self.assertEqual(len(report[1]), 1)
+			row = report[1][0]
+			self.assertEqual(expected_data, [row.invoice_grand_total, row.invoiced, row.remarks])
+
+			# check invoice grand total, invoiced, paid and outstanding column's value after payment
+			self.create_payment_entry(si.name)
+			report = execute(filters)
+
+			expected_data_after_payment = [100, 100, 40, 60]
+			self.assertEqual(len(report[1]), 1)
+			row = report[1][0]
+			self.assertEqual(
+				expected_data_after_payment,
+				[row.invoice_grand_total, row.invoiced, row.paid, row.outstanding],
+			)
+
+			# check invoice grand total, invoiced, paid and outstanding column's value after credit note
+			cr_note = self.create_credit_note(si.name, do_not_submit=True)
+			cr_note.update_outstanding_for_self = True
+			cr_note.save().submit()
+			report = execute(filters)
+
+			expected_data_after_credit_note = [
+				[100.0, 100.0, 40.0, 0.0, 60.0, si.name],
+				[0, 0, 100.0, 0.0, -100.0, cr_note.name],
+			]
+			self.assertEqual(len(report[1]), 2)
+			si_row = [
+				[
+					row.invoice_grand_total,
+					row.invoiced,
+					row.paid,
+					row.credit_note,
+					row.outstanding,
+					row.voucher_no,
+				]
+				for row in report[1]
+				if row.voucher_no == si.name
+			][0]
+
+			cr_note_row = [
+				[
+					row.invoice_grand_total,
+					row.invoiced,
+					row.paid,
+					row.credit_note,
+					row.outstanding,
+					row.voucher_no,
+				]
+				for row in report[1]
+				if row.voucher_no == cr_note.name
+			][0]
+			self.assertEqual(expected_data_after_credit_note[0], si_row)
+			self.assertEqual(expected_data_after_credit_note[1], cr_note_row)
+
 	def test_payment_againt_po_in_receivable_report(self):
 		"""
 		Payments made against Purchase Order will show up as outstanding amount
@@ -392,11 +468,30 @@ class TestAccountsReceivable(AccountsTestMixin, FrappeTestCase):
 		)
 
 	def test_future_payments(self):
+		sr = self.create_sales_invoice(do_not_submit=True)
+		sr.is_return = 1
+		sr.items[0].qty = -1
+		sr.items[0].rate = 10
+		sr.calculate_taxes_and_totals()
+		sr.submit()
+
 		si = self.create_sales_invoice()
 		pe = get_payment_entry(si.doctype, si.name)
+		pe.append(
+			"references",
+			{
+				"reference_doctype": sr.doctype,
+				"reference_name": sr.name,
+				"due_date": sr.due_date,
+				"total_amount": sr.grand_total,
+				"outstanding_amount": sr.outstanding_amount,
+				"allocated_amount": sr.outstanding_amount,
+			},
+		)
+
 		pe.posting_date = add_days(today(), 1)
-		pe.paid_amount = 90.0
-		pe.references[0].allocated_amount = 90.0
+		pe.paid_amount = 80
+		pe.references[0].allocated_amount = 90.0  # pe.paid_amount + sr.grand_total
 		pe.save().submit()
 		filters = {
 			"company": self.company,
@@ -408,16 +503,21 @@ class TestAccountsReceivable(AccountsTestMixin, FrappeTestCase):
 			"show_future_payments": True,
 		}
 		report = execute(filters)[1]
-		self.assertEqual(len(report), 1)
+		self.assertEqual(len(report), 2)
 
-		expected_data = [100.0, 100.0, 10.0, 90.0]
+		expected_data = {sr.name: [10.0, -10.0, 0.0, -10], si.name: [100.0, 100.0, 10.0, 90.0]}
 
-		row = report[0]
-		self.assertEqual(
-			expected_data, [row.invoiced, row.outstanding, row.remaining_balance, row.future_amount]
-		)
+		rows = report[:2]
+		for row in rows:
+			self.assertEqual(
+				expected_data[row.voucher_no],
+				[row.invoiced or row.paid, row.outstanding, row.remaining_balance, row.future_amount],
+			)
 
 		pe.cancel()
+		sr.load_from_db()  # Outstanding amount is updated so a updated timestamp is needed.
+		sr.cancel()
+
 		# full payment in future date
 		pe = get_payment_entry(si.doctype, si.name)
 		pe.posting_date = add_days(today(), 1)