Viewing and printing a statement of account

What this does

A statement of account is a document that shows all transactions between your business and a specific contact (customer or vendor) over a period of time. It includes every invoice, payment, and adjustment, along with a running balance. Statements are useful for:

• Sending to customers or vendors so they can verify their balance against your records.
• Internal reconciliation to ensure your books match theirs.
• Reference when discussing overdue amounts or payment terms.

Before you start

• You need permission to view contact details and run reports (check with your administrator if unsure).
• The contact must have at least one transaction (invoice, bill, or payment) recorded.
• You can generate a statement in any currency the contact has used, or in your business currency if preferred.

Steps

1. Go to Contacts. Open in Usystems

2. Find and click the contact you want a statement for. This opens their profile.

3. Look for a Statements button or link on the contact detail page. It is often labeled "View Statement," "Statement of Account," or "Ledger."

4. Click the statement button. This opens a preview of the statement showing all transactions and the contact's balance.

5. Optional: Select a date range. If the statement shows options to filter by date, choose the "From" and "To" dates you want to include. The default is usually the full history.

6. Optional: Select a currency if the contact has transactions in multiple currencies.

7. Print or download the statement:

   • To print, click the Print button (usually a printer icon) and choose your printer.
   • To download as PDF, look for a Download or Export button.

What the statement shows

A typical statement includes:

• Contact name and your business name at the top.
• Date range covered by the statement.
• Transaction list with columns for:
  • Date of the transaction.
  • Description (invoice number, payment type, etc.).
  • Debit (amount the contact owes you, or you owe them).
  • Credit (payment received or made).
  • Running balance (amount owed after each transaction).
• Final balance at the bottom, showing the total amount due or owed.

Accounting impact

The statement itself is a reference document only—it does not create any transactions or affect your books. It is simply a record of what has already been posted. The balance shown on the statement should always match the contact's balance in your main ledger.

Tips & common mistakes

• Tip: Send a statement to customers before following up on overdue amounts. It gives them a clear record and often resolves disputes.
• Tip: If you work in multiple currencies, you can generate separate statements for each currency to make reconciliation easier.
• Common mistake: The statement shows a balance different from your contact card. This usually means a recent transaction has not yet been saved or synced. Refresh the page and try again.
• Common mistake: If the statement is blank or missing transactions, make sure the date range filter includes the dates you are looking for.

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