QBO 3 - Customer Statements

Alternative methods of creating customer statements:

Clients can also create customer statements from within the Customer center. One way to do this for a specific customer is to select Create statement from the dropdown in the Action column. Another way is to open the customer from the list and select New transaction followed by Statement. To create statements for multiple customers at once, check all the relevant customers, then select Create statements from the Batch actions dropdown.

Transaction Statement

Clients can use the Transaction Statement to show all their sales receipts and invoices—and the total amount of payments applied to each invoice—for a specified time period. Clients might use this statement to show their customers how payments have been applied.

Customer statement types

Customer statements list a customer's transactions, including invoices, payments received, credits applied, and balances. With QuickBooks Online, clients can create three types of customer statements: Balance Forward, Open Item, and Transaction Statement.

Viewing and deleting customer statements:

If you or your client wants to view statements for one or more specific customers, they can run a Statement List report from the Reports center. This lists all customer statements for the current month to date. You can view a statement in detail by selecting it from the list. To delete the statement from QuickBooks Online, select Delete from the bottom of the screen.

Creating a customer statement:

Now let's look at how to create a customer statement. The steps are as follows: 1.) Select + New, then select Statement This displays a list of customers for whom statements apply. 2.) Select the checkboxes for the customer(s) you wish to create statements for 3.) Select the Statement type from the dropdown. For this example, we'll create a Balance Forward statement 4.) From the Customer Balance Status dropdown, choose whether you want the statement to list All, Open, or Overdue transactions 5.) Next, enter a statement date (typically the date when you'll issue the statement) 6.) Specify the date range that you want the statement to cover 7.) Check that the statement contains the correct information before you send it to the selected customer(s). To do this, select Print or Preview at the bottom of the screen. This opens a statement preview 8.) If the statement looks good, select Close on the preview window, then select Save or Save and send as required

Balance Forward

The Balance Forward statement shows a beginning balance, together with a list of sales transactions (including invoices, sales receipts, payments, and credit memos) for a selected date range, plus a running balance. It's perfect for situations where a client wants to show activity during a specified time period, together with a running balance of the total owed on their account.

Open Item

With the Open Item statement, your clients can produce a list of all open unpaid invoices from the last 365 days. This statement type is great for clients who want to provide details of all unpaid invoices and open credit memos—and possibly unapplied payments— to their customers.

ProAdvisor Tip:

When you or your client makes changes to a transaction on a statement, the statement automatically updates to reflect those changes.