How exactly to Set Up Customer Statements in QuickBooks Online
This lesson covers simple tips to set up customer statements in QuickBooks Online. We’ll show you how to regulate the amount of detail provided and add an aging table to your bottom of one's statement.
We hope you love this tutorial for QuickBooks Online, our best overall pick for small business accounting software. We advice following along in your own QuickBooks account. If you don’t already sign up to QuickBooks, there is the selection of a 30-day free trial or 50% off for three months.
This lesson is certainly one in our number of Free QuickBooks Tutorials. You can either watch the video below, read through the step-by-step instructions, or do both. The video was made out of a somewhat older version of QuickBooks Online. Even though the process of formatting statements is basically unchanged, the layout of the screens are slightly different. The step-by-step instructions are from the essential current type of QuickBooks Online. If you want to know about How To Create A Billing Statement In QuickBooks then get in touch with our experts.
This lesson is the one inside our variety of Free QuickBooks Tutorials. You may either watch the video below, read through the step-by-step instructions, or do both. The video was created using a slightly older version of QuickBooks Online. While the process of formatting statements is basically unchanged, the layout regarding the screens are slightly different. The step-by-step instructions are from the absolute most current form of QuickBooks Online.
The significance of Setting Up QuickBooks Customer Statements
Statements provide a summary of goods and services sold towards the customer during the statement period, grouped by invoice. If a client pays their invoices promptly, there is certainly probably you don't need to send a statement. However, for customers which are slow to cover, statements are a great method to remind your web visitors of these outstanding invoices.
How to Put Up QuickBooks Customer Statements
Your company account and settings includes options for your customer statements. Click on the cog wheel within the upper right corner of QuickBooks on the internet and select Account and settings in the 1st column:
Account and Settings in QuickBooks Online
Navigate to Account and Settings in QuickBooks Online.
Then, click on Sales into the left menu and scroll down to click on Statements. This reveals the 3 options available for QuickBooks customer statements, which permit you to adjust the level of detail provided when you look at the statement.
Statement Settings in QuickBooks Online
Statement Settings in QuickBooks Online.
List each transaction as just one line: in the event that you select this method, the statement is only going to show a summary of the invoice, including the invoice date, number, and amount. Let me reveal a typical example of a statement from our fictitious company, Paul’s Plumbing, with a listing of the invoices:
QuickBooks Customer Statement with Summarized Information
QuickBooks Customer Statement with summarized information.
Tip: The colors and logos into the statement result from the master sales form that you customized within our lesson on how best to Customize Invoices.
2. List each transaction, including all detail lines: this method will provide a total recap associated with transaction. Each line item on an invoice will undoubtedly be summarized and shown separately. This is the way a QuickBooks customer statement appears when all detail lines are included:
QuickBooks Customer Statement with Detailed Transaction Information
QuickBooks Customer Statement with detailed transaction information.
The decision to summarize invoices (option 1) or provide detail (option 2) is an individual preference. However, I recommend summarizing the invoices in the event that customer has already received a detailed invoice.
3. Show aging table at the bottom associated with the statement: By selecting this program, a summarized accounts receivable aging report will print at the bottom associated with the statement showing any amounts that are past due. I recommend showing this table to alert customers of any overdue amounts. The aging table for the sample invoice seems like this:
Aging Table in the bottom of a QuickBooks Customer Statement
Aging Table in the bottom of a QuickBooks customer statement.
Click on the green Save button after you have selected your statement options.
At this point you understand how to set your statement options in QuickBooks Online. The next lesson within our QuickBooks Online training program is how exactly to put up Expenses in QuickBooks Online. That lesson will cover your available alternatives for tracking and billing expenses to customers plus the amount of expense detail to supply on expense and get forms.