Quicker Collections with QuickBooks Statements

If your Accounts Receivables are piling up and you’re having difficulty collecting on your invoices, sending statements to your customers with QuickBooks is an effective solution.

Statements can remind customers that they owe you in the event the original invoice was lost or misplaced. They also allow customers to see if they have all their invoices and identify any potential issues, and they allow you to show any finance charges that may have accrued due to the amount being unpaid.

Clearing up your Accounts

Sometimes an invoice might be all you need to get your payments. However, it might be wise to use monthly statements. They outline all of the open invoices or charges that you have for their account. They work well to clear up issues between what was billed and what the client believes they owe. There are times when credits get applied incorrectly, partial payments leave balances open, and service charges for late payments go unnoticed. Monthly statements are a great way to clear up the accounts.

If the client doesn’t understand a charge or had a return that wasn’t processed, they will likely call and inquire about the invoices they have paid on their end. This opens up communication and helps you to straighten your books and collect on outstanding charges the customer might not even be aware of.

Outlining the Charges

You can work more efficiently with QuickBooks statements if you follow these simple tricks and tips to help you along your way. The shortcut to navigate the tabs using “Customers/ Enter Statements” allows you to:

  • Adjust Charges
  • Add Amounts
  • Describe Job Detail

A clear invoice and brief description of services or products on statements allows your customers to clearly see where and how their money was spent. Statements that have outlined charges can help to remind overdue customers of the past due balance they owe.

Building Statements

After all the customer information and charges have been entered, you can then begin to build your statements. By clicking the “statements” icon, you will gain access to the customer’s record and can determine what has and hasn’t been billed. Using an online statement allows you to view items with a balance forward, see open items and display the transaction statement. You can use the open item statement when it comes to collecting payments from outstanding customers. There is also an option to send multiple statements at once. This make it faster to accomplish your goal of sending out statements in a timely manner.

Using QuickBooks statements is a wise business decision. Ensuring accuracy is important. The program is simple and easy to use. Over time, your customers will respect your commitment to the quality and accuracy of your books.

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