Balance Forward and Open Item Statements
There are two types of customer statements you can use: Balance Forward and Open Item.
• Balance Forward statements combine remaining transaction amounts into one sum total, which will be classified as a Balance Forward amount as of the date you perform your period-end tasks.
If the customer is in a
payer/payee relationship, those transactions are not included in the balance forward. Payer/payee transactions will appear as individual totals.
• Open Item statements show individual transactions that have balances remaining as well as the residual amount.
The type of statement is determined in the
AR Codes window. For this reason, if you send different types of statements to different groups of customers, they must have different AR Codes.
If a group affects more than one General Ledger receivables account, you need an AR Code for each different combination of group and account.
Published date: 12/31/2020