In this article, we will talk about how to create a customer statement in QuickBooks Online, since it can assist in numerous ways to prompt customers of their particular outstanding invoices.
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In this article, we will talk about the various kinds of QuickBooks Statements and how can you customize your statements prior to sending them to your respective customers. But first, we need to learn what customer statements in QuickBooks Online are.
What are Customer Statements in QuickBooks Online?
Customer statements in QuickBooks Online are considered as documents that show the transactions along with the outstanding balances for a particular customer. They offer a snapshot of the account of the customer, comprising payments, invoices, along with any open balances.
Now let’s learn how to set up customer statements in QuickBooks Online.
How to Set up Customer Statements in QuickBooks Online?
Here are the steps to set up customer statements in QuickBooks Online:
Step 1: Go to the ‘Customers’ Section under the ‘Sales’ tab.
- On the dashboard of your company, press on Sales, seen on the left side of the menu bar.
- Now choose Customers available on the drop-down menu.
Are you witnessing a different left-side navigation menu?
Review the User View
There are two user views in QuickBooks; Accountant View and Business View. The left side navigation menu may appear dissimilar, based on the user view in which you are in. The Accountant View is always recommended since it displays a complete range of business accounting tools and features which can be utilized in QuickBooks.
In order to authenticate, whether you are using Business View or not, press on the cog wheel which is present on the top right side of your QuickBooks dashboard. Then see if the button on the lower right side shows Switch to Accountant View or not.
Switch to Accountant View
Once you authenticate that you are on a Business View, Press on the tab, and Switch to Accountant View in a bid to update the sidebar menu appearance.
Step 2: Choose the Customer for Whom you Wish to Create the Statement
- A screen showing your customer list along with their payment activities and invoice comes up.
- Now, Here you need to choose the recipient of your particular customer statement by pressing on the name.
- You can select several customers to get statements by pressing on the checkbox prior to their names.
Step 3: Create the Statement
- Once you have clicked on the customer, a list of all the payments along with outstanding invoices comes up.
- Now you will witness which particular invoices are unpaid and which are due instantly.
- In order to prepare a statement, press the menu for New Transaction seen on the top-right end of the window and choose Statement from the available drop-down list.
Step 3.1: Now Select the Customer Statement Type
From the screen for Create Statements, select the three kinds of statements in QuickBooks Online:
- Open Item: Utilize this when you wish to offer customers a comprehensive analysis of every transaction comprising payments, open invoices, plus credits. It shows all open plus the unpaid invoices in the last 365 days. Not to mention, it also enables your customers to witness particular details of every transaction, including the amounts, invoice numbers, along due dates.
- Balance Forward: This kind of statement displays all payments and invoices with outstanding balances for a particular date range you chose. It also comprises the amount that your customer is liable to pay before the selected date range as the balance forward on the top of the statement. When you add the balance forward, it assists in including context to the customer and allows them to comprehend the total outstanding balance which is carried forward from the last transactions.
- Transaction Statement: A transaction statement shows the total amounts that are billed and acquired for all transactions in a particular tenure you mentioned, however, it does not display any balance forward amount along with the amount due.
After choosing the statement type, enter the statement date along with the date range for the particular statements you want to create. You can leave the statement date as it is, in order to utilize the present date.
Press Apply and continue.
Step 3.2: Review the Recipient’s Email Address
Ensure that the email address is precise. It will be automatically populated depending on the contact details you added when you included the customer, as covered in our tutorial on how to set up customers in QuickBooks Online.
Step 4: Statement Customization
You can edit the level of detail you have fixed in your customer statement from the dashboard of your company Account and Settings. It can be performed in the following manner:
- Go to Sales in the tab for Account and Settings. You need to press the gear icon present on the top right side of the dashboard of your company. Now choose Account and Settings. Here, press on Sales.
- Modify Your QuickBooks Statements
- Go to the Statements section to display three options present for QuickBooks statements that enable you to modify the detail level given in the document.
- You do not need to work on one individual tab and rush between the customized statement screen and preview template to monitor the edits you made. You may wish to open a new tab.
- Open a new tab by pressing right on the Dashboard menu. Now choose Open in the New tab.
A. List Every Transaction as one Single Line
If you choose this option, the statement will only display a synopsis of the invoice comprising the invoice number, date, and the amount.
It is important to note that you can modify your statement further by including the company logo. The logo settings that are utilized in the default invoice template will be included in your customer statement.
B. List all Transactions Comprising all Detail Lines
This option will comprise a total summary recap. Every line item on a particular invoice will be briefed and displayed distinctively.
Note: It is always suggested to summarize the invoices in case the customer has a detailed invoice.
C. Displaying Agile Table Below the Statement
By choosing this option, a brief accounts receivable (A/R) aging report will be printed at the lowermost position of the statements displaying any amount that is due in the past. We suggest you display this table to notify customers of any kind of unpaid amounts.
Press the green button for Save once you have chosen your statement options.
Step 5: Send Immediately or Save as a Draft
Once you are content with your statement, press Save if you want to record the statement in the form of a draft. You can click Save and Send if you want to send immediately. In case you wish to see your statement and find out what it looks like after it is printed, choose the button for Print Preview, present at the bottom of the statement.
After you click on Save and Send, QuickBooks will show a preview window displaying the email content along with a statement preview. It is possible to edit the email content along with the subject if required.
Finally, Press Send and then proceed.
How To Create a Single Customer Statement in QuickBooks Online
- Click Customers on the left menu bar, then you have to choose a customer name from the list.
- Select Statement from the drop-down menu under New Transaction which is at the top right corner of the page.
- Depending on your preference, click Balance Forward, Open Item, or Transaction Statement.
- Balance Forward: It displays all the activity between the Start and End dates. It will display a Balance Forward amount that is at the top.
- Open Item: Displays all open invoices from a specific date back.
- Transaction Statement: Only the number of transactions and the money received for each one are shown on the transaction statement, which does not display a balance.
- Now you have to select your Statement Date, Start Date and then End Date and then click OK.
How to Create a Statement for a Sub-customer in QuickBooks Online?
Here are the steps to prepare a statement for a sub-customer in QuickBooks Online:
- On the left side of the menu bar, you need to choose Customers. Now choose the Sub-customers name from the given list. Now press Edit.
- On the drop-down, Select Bill this Customer. Now press Save.
- Now, Press Customers, seen on the left side of the menu bar. Now choose Sub-Customer.
- On the top-right side of the page, press on the New Transactions drop-down arrow and choose the option, Statement.
- Press to choose Balance Forward, Transaction Statement, or Open Item based on your preference.
- Choose your Start Date, Statement Date, along End Date.
- Press OK.
How To Create Multiple Customers Statements in QuickBooks Online
- Select Statement in the Other column by clicking the sign (+) at the top right corner of the screen.
- Click on Balance Forward, Open Item, or Transaction Statement under Choose statement type to make your selection.
- Enter the Statement Date, the Start Date, and the End Date. (You may also choose any other criterion you require.)
- Then you have to click OK
- At this point, the Statements screen will appear. Before clicking Create/Send Selected Statements, read the instructions at the top and choose the appropriate customers. Any statements you choose to email will now be sent.
- Click Print, Preview, or Print Statements, then click Print to print statements. You can now open the statements before sending them to your printer by using the Adobe preview window.
Now you can also include more description in detail on your statements. To allow this you have to:
- Select Account and Settings from the Your Company column by clicking the Gear icon in the top right corner of the screen.
- Click Statements after choosing Sales in the left column.
- Select the choice to List every transaction, along with all of the detail lines.
- To access the Statements screen, you have to click Save, then Done in the bottom right corner.
NOTE: You likely have sales receipts solely for that customer if you see the statements “There is nothing to include on a statement at this time” when making your statement. (You must be using Invoices to bill your customers and order to make Statements.)
How to Delete Customer Statements in QuickBooks Online?
Here are the steps to delete Customer Statements in QuickBooks Online:
- Press the Report option seen on the left side of the menu bar. Now utilize the Search Box to search for the report stated Statement List.
- Choose All Dates from the drop-down present beside the option for Date.
- Press on the statement number to open it or the statement date.
- On the bottom left, press Delete.
We hope that after going through this article, you will be clear about how to set up customer statements in QuickBooks Online. In this article, we have talked about how to set up statements for customers and sub-customers in QuickBooks Online. We also have talked about how to delete customer statements in QuickBooks Online.
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Frequently Asked Questions
Which 3 Types of Customer Statements can QuickBooks Online Generate
Balance Forward, Open Item, and Transaction Statements are the three main kinds of client statements that QuickBooks Online may produce.
Why It is Important to Set up and Send Customer Statements in QuickBooks Online?
You may be required to prepare and send customer statements in QuickBooks if you wish to remind them of their unpaid amount or outstanding amount payments. Not to mention, some customers may particularly ask for statements for the purpose of reconciliation.
Is it Possible to Send Customer Statements from QuickBooks Directly?
Yes. It is possible. Once you prepare the statement, it is possible to send it directly to your customers from your QuickBooks.
Is it Possible to Customize QuickBooks Statements?
Yes. It is possible to customize QuickBooks Statements. QuickBooks has robust customization options for different documents and sales forms comprising statements and invoices.
What are the 3 Types of User Permissions you can Choose from in QuickBooks Online Accountant When Adding New Team Members to Your Firm?
Although the main focus of this article is on client statements, team management in QuickBooks Online Accountant greatly depends on user rights.
What is a Customer Open Balance Statement in QuickBooks Online?
All invoices with an open balance-an amount that is still owed-are shown on a customer’s open balance statement in QuickBooks Online. It gives the remaining open amount as well as the initial amount on each invoice.