Viewing customers' statement of account
Watch this video on how to view your customer or vendor statement of account
Introduction to a customer’s statement of account
A customer statement of account allows you to:
- See all the transactions that took place between you and your customer for a given period of time.
- Provide your customer with a summary of the product and services you have billed them.
- Confirm customer payments that have been made in the chosen time frame.
- Send reminders for amounts that your customer still owes you for sales that were placed on credit in that period of time.
Filtering for a customer
Go to Reports in the left side menu, then go to the Statement of Account report.
From the Filter drop-down, choose the period of time of your statement of account by specifying the relevant dates. From the Contact list, select the customer you wish to send the statement to, then choose the Accounts Receivable account.
What does a statement of account represent?
- Currency: The currency of the transactions.
- Account: The names of the accounts you filtered by.
- Date: The dates of the transactions are sorted from oldest to newest.
- Activity: The details of the transactions such as an invoice creation or payment.
- Debit: This shows the amount debited to the account during a transaction.
- Credit: This shows the amount credited to the account during a transaction.
- Balance: This shows the cumulative balance of the amounts credited or debited. Since the Accounts Receivable account is an asset account, a positive balance represents the amount that the customer owes you, and a negative balance shows the amount of money you owe the customer.
- Debit/Credit/Balance in the base currency: When you issue transactions to your customer in a foreign currency, you will be able to see the statement of account in the chosen foreign currency and their equivalence in the base currency.
A contact that is your vendor and customer simultaneously
To view your sales and purchases with a certain contact, filter your Account‘s list with both the Account Receivables and the Account Payables accounts.
This will allow you to see transactions of sales and purchases made with the same contact.
Exporting the Statement of Account
To export the Statement of Account, click on Export results and choose the format of your export.