Customer Statements in QuickBooks
Why does the QuickBooks statement I create for my customer show zero when I know that customer has a balance?
Let's answer this question and talk a little about statements in QuickBooks at the same time. Believe it or not, the most common problem is the user has set the wrong date. Look in the graphic below. The statement date is set to 7/25/09. If you were to look at the
Customer
Center, you would see Kristy Abercrombie actually has a balance of $3000. But, the preview of the statement shown below shows a balance of $5000. The customer made a payment after 7/25/09, so the customer balance in the
Customer
Center, which is always up to date, reflects that payment. The statement does not. Seems simple, but you'd be surprised how often that simple answer fixes the question.
Let's look at a few other things in the Create Statements window above. First, notice right underneath the date are two options that control what type of statements we want to print for our customers. The option that is chosen on the graphic is often called a balance forward type statement. Much like a credit card statement it will show a beginning balance, all the activity during a certain date range (7/1/09 through 7/25/09 in the graphic), and then an ending balance. The second type, often called an open item type statement, details all open transactions as of the statement date. Both will add up to the same balance due, just in different formats. You can switch back and forth all you want. Try them both and see which works best for your customers.
Everything gets easier from this point forward. The Select Customers section allows you to pick one, some, or all of your customers. It will also allow you to print the statements or send them by email. The right-hand panel lists several options. First, if you create a customer statement template, it can be selected at the top of this panel. Next, do you want a statement per customer or one per job? Select which from the drop-down list. Do you want item descriptions on your statements? If so, check the checkbox. If you print so many statements you use bulk mail to send them, you can print in zip code order. Do you want the due date printed on the statement? Mark the checkbox accordingly.
The next section allows you to specify statements you do not want QuickBooks to print based on balance due or activity.
Towards the bottom of the Select Additional Options segment of the window, is the Assess Finance Charges button. Setting up and using Finance Charges in QuickBooks is a topic we will be addressing in the near future.
