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queencityyachtclub
January 18, 2024
Question

QuickBooks Only Zero Balance Statements & Statement Detail

  • January 18, 2024
  • 2 replies
  • 0 views

Hello, 

 

My company recently migrated from QuickBooks Desktop to QuickBooks Online. It was advertised as being seamless; however, we have found some stark differences. 

 

Our business structure includes quarterly "charges" that we send out 1x every 3 months. It was be chaos if we sent out each individual invoice. We create an invoice for each item charged then send out a statement every three months. We need the following to occur:

 

1. We used to be able to send statements to customers showing a zero balance. That is no longer possible, as Online shows a "can't create all statements" message. Desktop had no issue with this and customers appreciate knowing their account was at zero. 

 

2. The statements in Desktop were able to show quantity and rate. This does not show in the new Online statements. The only fix I've found is to include the "price" for items in the item descriptions; however, it leaves the customer to do their own math. That doesn't make sense in terms of efficiency, especially when it was possible in Desktop and the customer is used to seeing this format. 

 

What would you recommend as the workaround for the (2) items listed above?

 

Thank you. 

    2 replies

    M
    Maybelle_S
    January 19, 2024

    Hello there, queencityyachtclub.

     

    I understand the frustration you're experiencing with the differences between QuickBooks Desktop (QBDT) and QuickBooks Online (QBO).

     

    Currently, sending a statement with a zero balance is unavailable. QBO generates statements based on the outstanding balances of the invoices, bills, or other transactions recorded in your account. Therefore, if there are no outstanding amounts, the program doesn't include any information in the statement.

     

    When creating a template, you can select a statement type for the customer. It allows for more customization and tailored communication with your customers.

     

    Here's how:

     

    1. Go to the +New button.
    2. Click Statement.
    3. Select Statement Type from the drop-down arrow.
    4. Choose your customer.
    5. Hit Save.

     

    You can also check this link to learn how to send multiple statements to customers: Create and send customer statements.

     

    Furthermore, you can view your current account balance and transaction history within the program by running the Profit and Loss or General Ledger report to get a comprehensive overview of your financial situation at any given time.

     

    You may also want to explore a third-party application that can help show quantity and rate in the statements. You can find one by visiting this website: https://quickbooks.intuit.com/app/apps/home/.

     

    Additionally, refer to this article to view the status of all sales transactions: View sales transactions.

     

    Let me know if you need more help with statements in QuickBooks. I'm always here to help. Take care.

    S
    shortcut1
    September 11, 2024

    We require zero balance statements ; all lot of our Customers need this for their year end audit.

     

    At least provide a way this can be accomplished ... somehow, there must be a report ... anything ?

     

    M
    Maybelle_S
    September 11, 2024

    Providing zero balance statements for your year-end audit is a great way to ensure all accounts are accurately reflected and accounted for, shortcut1. Let’s explore the options available in QuickBooks Online (QBO) to get the information you need.

     

    I’m pleased to let you know that QBO has recently updated with the option to include sending customer statements with zero balances. This new feature will allow you to directly provide these statements to your customers, streamlining your process and ensuring that all necessary information is easily accessible.

     

    Here's how:

     

    1. Go to the +New button.
    2. Under Customers, select Statement.
    3. Choose Balance Forward under the Statement Type drop-down arrow.
    4. Put a Statement Date.
    5. Select All in the Customer Balance Status.
    6. Check the box next to the customer's name with a zero balance.
    7. Enter the email address.
    8. Hit Save and send.

     

    Furthermore, you can run the Transaction List by Customer report and customize it for a specific customer. I'll guide you on how:

     

    1. Go to the Reports menu.
    2. In the search bar, type Transaction List by Customer.
    3. Click the Customize button.
    4. Tap the Rows/Columns drop-down arrow and put a checkmark beside Open Balance.
    5. Filter the customer from the drop-down arrow.
    6. Hit Run report.
    7. The customer's zero balance will appear in the Open Balance column.
    8. Then, you can print or export it to Excel.

     

    Moreover, refer to this article for guidance on issuing credit memos or delayed credits: Create and apply credit memos or delayed credits.

     

    Additionally, visit this link to enter a prior balance for a customer that owes you money or a vendor you need to pay: Manage outstanding balances for customers and vendors.

     

    Post again if you need further assistance sending customer statements in QuickBooks. I want to help you some more.

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