FAQ: What is the difference between an invoice and a receivables statement?

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Receivables Statements vs. Invoices

 

For clients with new time to be billed you will be posting an invoice. If this client also has old unpaid A/R you may choose to also show this on their new invoice. The invoice will show all their new time and then at the bottom, a listing of any outstanding A/R.

After you run off new invoices you will want to run off A/R Statements for clients that do not have any new time but that have unpaid overdue A/R. This is different from an invoice - it is a Receivables Statement. When you run Receivables Statements you will want to run one off for every client that has overdue A/R but you want to exclude those that you sent a new invoice to (as you are already telling them about their overdue A/R on the new invoice).

To run Receivables Statements:

Choose the Reports menu > Client Statements > Receivables Statement
Check Statements of Account
Choose to show interest if you wish
Under Files to Omit check "Nil and Negative Balances" and "Invoiced After". In the "Invoiced After" box, enter the day prior to your invoice date. This will ensure that you do not run off Statements for those clients that had new time and for whom you already ran an invoice.

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