How to Create a Statement in QuickBooks


Today, in this article we will talk about the methods to Set Up Statements in QuickBooks Online. The assertion is a sort of report that you ship off your customers. It contains every one of the exchanges made by the customer during a timeframe. Peruse the total article to know the importance, process of setting up, and customizing the assertion. Go through the article and get every one of your questions settled, here in this gave easy steps to set up statements in QB. For more info contact our QuickBooks.

Importance of Setting up Statements.

The assertion gives you the complete data regarding the billing of customers and the payment received from the customer throughout a certain period of time commonly one month.

A statement generally involves two types of transactions

  • Credit memos, Invoices and sales receipts that you have made.
  • Payment made by the customer.

There is no compelling reason to send an assertion to the customer in the event that you like to send them an invoice.

Besides, You are encouraged to send an assertion over the invoice to the customer. As it gives more itemized information to the customer who you are billing month to month, Quarterly or Annually.

Set Up The Company Information In QuickBooks Online

Instructions to set up the fundamental company information. The information includes company name, logo, address, email, site and lawful element information. This information will be utilized on the reports, customer invoices, and tax returns.

Why It Is Important To Set Up Company Information?

This is a vital thing to complete company information since what you give in this section will be influenced the contact information that shows up on the invoices, sales receipts, and gauges that you ship off your customers. If you don’t complete Company set up, by then you are likely going to encounter issues.

For instance, on the off chance that you send invoices to customers who you hope to mail you a check yet you didn’t set up your contact information in Company Settings, at that point your invoice won’t include your mailing address and your customers won’t realize where to mail payments to. There will be most likely postpone payment and result in an income issue for you.

Now, we will let you know the steps to set up the statement:

There is three choice to pick when setting up a proclamation. It relies upon what amount definite information you need to give to your customer.

  • Sign in to QuickBooks account then go to the Gear Icon>Account and Setting>Company settings.
  • On the left side of the menu Choose the Sales option.
  • Scroll down to select the statement option then you will get the three options.
    • The first option is to List each transaction as a single line.
    • The second option is to List each transaction including all details line.
    • The third one is Show ageing table at the bottom of the statement. This option provides a list of charges billed this categorized by how long they have been outstanding. Checkmark the box to enable this option.
  • Once you have made the changes then click on the save option.

Creating a statement from customers page

  • Click on the customer in the navigation bar (alternatively, Click invoicing > Customers, or Sales > Customers, it depends on what you are seeing)
  • Find the customer from the rows for which to create a statement.
  • Click on the arrow near to the ACTION column and select Create Statement.
  • Once the Statement page is visible. Click on the Statement drop-down menu, and select the statement type you want to create. There are three types of statements from which you can choose.
    • Balance Forward: This statement contains the list of invoices and payments with balance for the selected date range.
    • Open item: This statement contains a list of open and unpaid invoices for the last 365 days.
    • Transaction Statement: In this statement, you can see the transactions for the selected time period.
  • After filling the date fields, click on the Apply.
  • Finally, select the Save, Save and Close, Save and Send, and Print or Preview.

Customize your statement

Whenever you have created the customer articulation then you can customize the assertion later. Adhere to the instructions underneath to alter the statements.

  • First, open QuickBooks and then go to the Preferences option.
  • Then, go to the Settings option and then select the Company Settings option.
  • Here, open the Sales tab and then scroll down to the bottom until you see the Customer Statements option.
  • After that, click on the Edit.
  • Select any one of the following:
    • List each transaction as a single line.
    • List each transaction including all details lines.
  • Then checkmark the box stating show ageing table at the bottom of the statement.
  • Select Save.

Wrap Up

You presently realize how to set your assertion choices in QuickBooks Online. The following tutorial in our QuickBooks Online Training Course is How to Set Up Expenses in QuickBooks Online. That tutorial will cover your accessible alternatives for tracking and billing costs to customers and the degree of cost detail to give on cost and buy structures.