A customer statement is a summary of all charges, including invoices, finance, & statement charges to your customer during a specific period of time. Business usually generate customer statements monthly or quarterly, but you can generate in any period of time in QuickBooks.
A finance charge is a cost of money charged to your customer on overdue amounts, while a statement charge is a charge to your customer, such as general or out-of-pocket expenses, that you did not invoice.
To have a finance charge and a statement charge appear in your customer statement, you have to apply finance charges and enter statement charges before producing the statement.
To generate a statement, open Create Statements window by:
• selecting Customers > Create Statements from Main Menu, or
• choosing Statements from Home Page icons.
Instead of creating your customers or vendors one-by-one, QuickBooks provides a way to add and edit multiple records:
• From the Main Icon, choose Lists > Add/Edit Multiple List Entries,
• From the Home Page, choose Customers icon bar > New Customers & Jobs > Add Multiple Customer:Job, or
• From the Main Menu, select Customers > Customer Centre > New Customers & Jobs > Add Multiple Customer:Job.
A new Add/Edit Multiple list Entries window will open:
In QuickBooks, a customer is a person or company that purchase goods or services from you. When you create a customer, you enter your customer record with information such as adresses, payments, jobs, and other additonal info. When you create your invoices or sales receipts for your customer, this info will be automatically filled in.
There are 2(two) ways to create customers:
1. One by one:
• From the Home Page, click Customers button in the Customers pane.
• From the Main Menu, select Customers > Customer Centre.
• From the icon bar, click Customer Centre.
2. Add/Edit Multiple List Entries, which will be covered in the future.
In the Customer Centre window, click New Customer & Job bar > New Customer to arrive at New Customer window:
In QuickBooks, a vendor is a person or business that you purchase goods &/or services from. When you create a vendor, you enter your vendor record with information such as vendor’s adress, contact number, tax, & other bill-related info. This is done so you can enter your bills or pay them with checks.
As with creating customers, there are 2(two) ways you can create vendors:
1. One by one:
• From the Home Page, click Vendors button in the Customers pane.
• From the Main Menu, select Vendors > Vendor Centre.
• From the icon bar, click Vendor Centre.
2. Add/Edit Multiple List Entries, which will be covered next time.
In the Vendors Centre window, click New Vendor & Job bar > New Vendor or Ctrl+N to arrive at New Vendor window:
When we discussed “Undeposited Funds Account Use” a few months ago, it showed how to default all your customers payment into a temporary account (Undeposited Funds). Then by choosing which payments you deposit into your bank account, both the amount deposited and your bank statement will have the same dollar value to make reconciliation easier.
In other words, after you Receive Payment from your customers, you will have many payments ready to be deposited into your bank account.
To deposit it to your bank account choose Banking > Make Deposits from the Main Menu or choose Record Deposits icon from the Home Page:
1. The first window you will see is ‘Payments to Deposit’ window as shown below: