Accounts Receivable Statements Statements Overview
A statement is a printed document listing the unpaid invoices and unapplied credits for a customer as of a particular date. Typically, statements are generated monthly for customers who have not paid their invoices by the due date that was specified according to the invoice terms.
Each customer record has an option setting to define whether they are eligible to receive statements. This option checkbox "Print Statements", is located on the customer Setup Information form. Only customers with this option selected will be considered during the statement generation process.
Several options are available in determining which customers will receive a statement. These guidelines follow your pre-defined accounts receivable aging buckets 2 through 4. A User also has the option of printing a message on the statements that may be different for each of the aging buckets 2 through 4. Statement messages are setup within SedonaSetup / Statement Rules.
The User generating the statements has the option of calculating and printing a late fee on the statements. The default rules for the late fee calculation are maintained in SedonaSetup/Late Fee Rules. This late fee will not create an accounts receivable entry on the customer’s account or post to the general ledger. If certain customers should not have a late fee calculated and printed on their statement, then the "Charge Late Fees" option on the customer setup form must be de-selected for those customers.
Producing Statements is a four-step process:
·In step one the User will first define the rules that will be used to determine which customers are eligible to receive a Statement.
·Step two produces a list of all customers eligible for a Statement based on the rules selected by the User in step one.
·Step three creates the Statement data that will be printed.
·The fourth step is to print the customer statements or, if using Bridgestone Printing Services, export the statements to a print file to be uploaded to and printed by Bridgestone.
Follow the topic links below for more instructions and information related to Generating and Printing Customer Statements.
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